10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

þ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the quarterly period ended September 30, 2014

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

For the transition period from ____________ to ____________

Commission File Number 001-34260

CHINA GREEN AGRICULTURE, INC.

(Exact name of registrant as specified in its charter)

Nevada	36-3526027
(State or other jurisdiction of	(IRS Employer
incorporation or organization)	Identification No.)

300 Walnut Street Suite 245

Des Moines, IA 50309

(Address of principal executive offices) (Zip Code)

(515) 897-2421

(Issuer's telephone number, including area code)

Indicate by check mark whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes þ No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ¨	Accelerated filer þ
Non-accelerated filer ¨ ( Do not check if a smaller reporting company )	Smaller reporting company ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes o No þ

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: 32,474,005 shares of common stock, $.001 par value, as of November 3, 2014.

TABLE OF CONTENTS

		Page
PART I	FINANCIAL INFORMATION
Item 1.	Financial Statements	3
	Consolidated Condensed Balance Sheets
	As of September 30, 2014 and June 30, 2013 (Unaudited)	3
	Consolidated Condensed Statements of Income and Comprehensive Income
	For the Three Months Ended September 30, 2014 and 2013 (Unaudited)	4
	Consolidated Condensed Statements of Cash Flows
	For the Three Months Ended September 30, 2014 and 2013 (Unaudited)	5
	Notes to Consolidated Condensed Financial Statements
	As of September 30, 2014 (Unaudited)	6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	21
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	31
Item 4.	Controls and Procedures	32
PART II	OTHER INFORMATION	32
Item 5.	Other Information	32
Item 6.	Exhibits	33
Signatures		34
Exhibits/Certifications		35

2

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

CHINA GREEN AGRICULTURE INC. AND SUBSIDIARIES

CONSOLIDATED CONDENSED BALANCE SHEETS

(UNAUDITED)

	September 30, 2014		June 30, 2014
ASSETS
Current Assets
Cash and cash equivalents	$	41,116,016	$	26,890,321
Accounts receivable, net		75,058,824		88,781,608
Other receivable, net		1,977,502		3,942,542
Inventories		100,583,401		75,486,898
Prepaid expenses and other current assets		529,147		480,432
Advances to suppliers, net		37,809,606		32,630,865
Total Current Assets		257,074,496		228,212,666
Plant, Property and Equipment, Net		47,275,996		48,061,611
Other Receivables, Net of current portion		2,628,361		2,628,361
Deferred Asset, Net		77,637,538		83,680,425
Other Assets		120,342		98,018
Intangible Assets, Net		24,823,031		25,225,143
Goodwill		5,203,986		5,203,986
Total Assets	$	414,763,750	$	393,110,210
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable	$	2,812,361	$	3,378,248
Customer deposits		36,870,502		25,700,586
Accrued expenses and other payables		4,420,750		4,309,073
Amount due to related parties		1,958,736		1,758,336
Taxes payable		3,933,954		1,921,455
Short term loans		22,947,120		24,002,720
Total Current Liabilities		72,943,423		61,070,418
Commitment and Contingencies
Stockholders' Equity
Preferred Stock, $.001 par value,  20,000,000 shares authorized, zero shares issued and outstanding		-		-
Common stock, $.001 par value, 115,197,165 shares authorized, 32,474,005 and 32,362,534 shares issued and outstanding as of September 30, 2014 and June 30, 2014, respectively		32,474		32,362
Additional paid-in capital		116,280,266		114,605,214
Statutory reserve		23,435,997		22,540,394
Retained earnings		179,224,810		172,021,331
Accumulated other comprehensive income		22,846,780		22,840,491
Total Stockholders' Equity		341,820,327		332,039,792
Total Liabilities and Stockholders' Equity	$	414,763,750	$	393,110,210

The accompanying notes are an integral part of these unaudited consolidated condensed financial statements.

3

CHINA GREEN AGRICULTURE INC. AND SUBSIDIARIES

CONSOLIDATED CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(UNAUDITED)

	Three Months Ended September 30,
	2014			2013
Sales
Jinong	$	34,464,165		$	31,762,002
Gufeng		15,986,074			17,756,082
Yuxing		851,551			785,263
Net sales		51,301,790			50,303,347
Cost of goods sold
Jinong		13,380,623			13,969,831
Gufeng		12,599,185			13,209,632
Yuxing		648,548			654,196
Cost of goods sold		26,628,356			27,833,659
Gross profit		24,673,434			22,469,688
Operating expenses
Selling expenses		11,066,721			5,796,190
General and administrative expenses		3,119,632			3,339,776
Total operating expenses		14,186,353			9,135,966
Income from operations		10,487,081			13,333,722
Other income (expense)
Other income (expense)		41,955			(116,383	)
Interest income		29,385			55,654
Interest expense		(455,744	)		(233,186	)
Total other income (expense)		(384,404	)		(293,915	)
Income before income taxes		10,102,677			13,039,807
Provision for income taxes		2,003,595			2,661,350
Net income		8,099,082			10,378,457
Other comprehensive income
Foreign currency translation gain		6,289			694,716
Comprehensive income	$	8,105,371		$	11,073,173
Basic weighted average shares outstanding		32,377,250			29,973,726
Basic net earnings per share	$	0.25		$	0.35
Diluted weighted average shares outstanding		32,377,250			29,973,726
Diluted net earnings per share		0.25			0.35

The accompanying notes are an integral part of these unaudited consolidated condensed financial statements.

4

CHINA GREEN AGRICULTURE INC. AND SUBSIDIARIES

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS

(UNAUDITED)

	Three Months Ended September 30,
	2014			2013
Cash flows from operating activities
Net income	$	8,099,082		$	10,378,457
Adjustments to reconcile net income to net cash provided by  (used in) operating activities
Issuance of common stock and stock options for compensation		1,475,164			1,984,494
Depreciation and amortization		11,749,194			5,666,842
Changes in operating assets
Accounts receivable		13,714,334			(9,882,111	)
Other current assets		(48,687	)		8,843
Inventories		(25,081,049	)		(15,498,332	)
Advances to suppliers		(5,175,552	)		1,174,510
Other assets		(22,310	)		20,620
Changes in operating liabilities
Accounts payable		(565,539	)		508,712
Customer deposits		11,163,038			2,680,539
Tax payables		2,011,259			(1,875,760	)
Accrued expenses and other payables		111,790			549,836
Amount due to related parties		-			-
Net cash provided by (used in) operating activities		17,430,724			(4,283,350	)
Cash flows from investing activities
Purchase of plant, property, and equipment		(231,115	)		(646,170	)
Proceeds from other receivables		1,963,830			-
Deferred assets		(4,291,918	)		(25,771,964	)
Net cash used in investing activities		(2,559,203	)		(26,418,134	)
Cash flows from financing activities
Proceeds from the sale of common stock		200,000			-
Proceeds from loans		-			162,800
Repayment of loans		(1,054,950	)		-
Advance from related party		200,400			100,000
Net cash provided by (used in) financing activities		(654,550	)		262,800
Effect of exchange rate change on cash and cash equivalents		8,724			297,697
Net increase (decrease) in cash and cash equivalents		14,225,695			(30,140,987	)
Cash and cash equivalents, beginning balance		26,890,321			75,031,489
Cash and cash equivalents, ending balance	$	41,116,016		$	44,890,502
Supplement disclosure of cash flow information
Interest expense paid	$	455,744		$	348,675
Income taxes paid	$	-		$	4,558,400
Supplemental Disclosure of Non-Cash Financing Activities:
Issuance 118,778 shares of common stock for repayment of
amount due to related party	$	-		$	525,000

The accompanying notes are an integral part of these unaudited consolidated condensed financial statements.

5

CHINA GREEN AGRICULTURE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2014

NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS

China Green Agriculture, Inc. (the “Company”, “Parent Company” or “Green Nevada”), through its subsidiaries, is engaged in the research, development, production, distribution and sale of humic acid-based compound fertilizer, compound fertilizer, blended fertilizer, organic compound fertilizer, slow-release fertilizers, highly-concentrated water-soluble fertilizers and mixed organic-inorganic compound fertilizer and the development, production and distribution of agricultural products.

Unless the context indicates otherwise, as used in the notes to the financial statements of the Company, the following are the references herein of all the subsidiaries of the Company (i) Green Agriculture Holding Corporation (“Green New Jersey”), a wholly-owned subsidiary of Green Nevada incorporated in the State of New Jersey; (ii) Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd. (“Jinong”), a wholly-owned subsidiary of Green New Jersey organized under the laws of the PRC; (iii) Xi’an Jintai Agriculture Technology Development Company (“Jintai”), wholly-owned subsidiary of Jinong in the PRC, (iv) Xi’an Hu County Yuxing Agriculture Technology Development Co., Ltd. (“Yuxing”), a Variable Interest Entity (“VIE”) in the PRC controlled by Jinong through contractual agreements; (v) Beijing Gufeng Chemical Products Co., Ltd., a wholly-owned subsidiary of Jinong in the PRC (“Gufeng”), and (vi) Beijing Tianjuyuan Fertilizer Co., Ltd., Gufeng’s wholly-owned subsidiary in the PRC (“Tianjuyuan”).

The Company’s corporate structure as of September 30, 2014 is set forth in the diagram below:

 

6

CHINA GREEN AGRICULTURE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2014

The unaudited consolidated financial statements were prepared by Company pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments) which are, in the opinion of management, necessary to fairly present the operating results for the respective periods. Certain information and footnote disclosures normally present in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) were omitted pursuant to such rules and regulations. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K. The results for the three months ended September 30, 2014, are not necessarily indicative of the results to be expected for the year ending June 30, 2015.

NOTE 2 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principle of consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Green New Jersey, Jinong, Gufeng, Tianjuyuan and VIE Yuxing. All significant inter-company accounts and transactions have been eliminated in consolidation.

Effective June 16, 2013, Yuxing was converted from being a wholly-owned foreign enterprise 100% owned by Jinong to a domestic enterprise 100% owned by one natural person, who is not affiliated to the Company (“Yuxing’s Owner”). Effective the same day, Yuxing’s Owner entered into a series of contractual agreements with Jinong pursuant to which Yuxing became the VIE of Jinong.

Use of estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the amount of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those results.

Deferred assets

Deferred assets represent amounts that the distributors owed to the Company in their marketing efforts and developing standard stores to expand the Company’s products’ competitiveness and market shares. The amount owed to the Company to assist its distributors will be expensed over three years as long as the distributors are actively selling the Company’s products, according to the terms in the cooperation agreement by and between the Company and its distributors. For the three months ended September 30, 2014, the Company amortized $10,331,084 of the deferred assets. If a distributor breaches, defaults, or terminates the agreement with the Company within the three year period, the outstanding unamortized portion of the amount owed will become payable to the Company immediately. The Company’s Chairman, Mr. Li, guaranteed to the Company of amounts remaining unpaid due from distributors. These deferred assets are subject to annual impairment testing. The estimated amortization expense of the deferred assets for the twelve months ending September 30, 2015, 2016, and 2017 is $43,238,911, $28,891,621 and $5,507,006, respectively.

Earnings per share

Basic earnings per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and stock awards.

7

CHINA GREEN AGRICULTURE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2014

The components of basic and diluted earnings per share consist of the following:

	For the Three Months Ended September 30,
	2014		2013
Net Income for Basic Earnings Per Share	$	8,099,082	$	10,378,457
Basic Weighted Average Number of Shares		32,377,250		29,973,726
Net Income per Share – Basic	$	0.25	$	0.35
Net Income for Diluted Earnings Per Share	$	8,099,082	$	10,378,457
Diluted Weighted Average Number of Shares		32,377,250		29,973,726
Net Income per Share – Diluted	$	0.25	$	0.35

Reclassification

Certain reclassifications have been made to the prior year’s consolidated financial statements to conform to the 2014 consolidated financial statement presentation. Such reclassifications did not affect total revenues, operating income or net income or cash flows as previously reported.

Recent accounting pronouncements

FASB Accounting Standards Update No. 2014-08

In April 2014, the FASB issued ASU 2014-08, "Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360)." ASU 2014-08 amends the requirements for reporting discontinued operations and requires additional disclosures about discontinued operations. Under the new guidance, only disposals representing a strategic shift in operations or that have a major effect on the Company's operations and financial results should be presented as discontinued operations. This new accounting guidance is effective for annual periods beginning after December 15, 2014.  The Company is currently evaluating the impact of adopting ASU 2014-08 on the Company's results of operations or financial condition.

FASB Accounting Standards Update No. 2014-09

In May 2014, the FASB issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers” (ASU 2014-09), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). Early adoption is not permitted. The Company is currently evaluating the impact of the pending adoption of ASU 2014-09 on its consolidated financial statements and has not yet determined the method by which it will adopt the standard beginning January 1, 2017.

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future financial statements.

NOTE 3 – INVENTORIES

Inventories consist of the following:

	September 30,		June 30,
	2014		2014
Raw materials	$	52,402,159	$	24,618,225
Supplies and packing materials		639,812		492,954
Work in progress		312,410		440,935
Finished goods		47,229,020		49,934,784
Total	$	100,583,401	$	75,486,898

8

CHINA GREEN AGRICULTURE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2014

NOTE 4 - PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consist of the following:

	September 30,			June 30,
	2014			2014
Building and improvements	$	29,930,241		$	29,930,240
Auto		732,684			732,684
Machinery and equipment		36,424,759			36,193,501
Agriculture assets		826,549			826,549
Total property, plant and equipment		67,914,233			67,682,974
Less: accumulated depreciation		(20,638,237	)		(19,621,363	)
Total	$	47,275,996		$	48,061,611

NOTE 5 - INTANGIBLE ASSETS

Intangible assets consist of the following:

	September 30,		June 30,
	2014		2014
Land use rights, net	$	11,658,736	$	11,723,976
Technology patent, net		435,774		498,027
Customer relationships, net		6,086,686		6,350,586
Non-compete agreement		32,155		42,874
Trademarks		6,609,680		6,609,680
Total	$	24,823,031	$	25,225,143

LAND USE RIGHT

On September 25, 2009, Yuxing was granted a land use right for approximately 88 acres (353,000 square meters or 3.8 million square feet) by the People’s Government and Land & Resources Bureau of Hu County, Xi’an, Shaanxi Province. The fair value of the related intangible asset was determined to be the respective cost of RMB73,184,895 (or $11,885,227). The intangible asset is being amortized over the grant period of 50 years using the straight line method.

On August 13, 2003, Tianjuyuan was granted a certificate of Land Use Right for a parcel of land of approximately 11 acres (42,726 square meters or 459,898 square feet) at Ping Gu District, Beijing. The purchase cost was recorded at RMB1,045,950 (or $169,862). The intangible asset is being amortized over the grant period of 50 years using the straight line method.

On August 16, 2001, Jinong received a land use right as a contribution from a shareholder, which was granted by the People’s Government and Land & Resources Bureau of Yanling District, Shaanxi Province. The fair value of the related intangible asset at the time of the contribution was determined to be RMB7,285,099 (or $1,183,100). The intangible asset is being amortized over the grant period of 50 years using the straight line method.

The Land Use Rights consist of the following:

	September 30,			June 30,
	2014			2014
Land use rights	$	13,238,189		$	13,238,189
Less: accumulated amortization		(1,579,453	)		(1,514,213	)
Total land use rights, net	$	11,658,736		$	11,723,976

9

CHINA GREEN AGRICULTURE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2014

TECHNOLOGY PATENT

On July 2, 2010, the Company acquired Gufeng and its wholly-owned subsidiary Tianjuyuan. The preliminary fair value on the acquired technology patent was estimated to be RMB 9,200,000 (or $1,494,080) and is amortized over the remaining useful life of six years using the straight line method.

The technology know-how consisted of the following:

	September 30,			June 30,
	2014			2014
Technology know-how	$	2,448,191		$	2,448,191
Less: accumulated amortization		(2,012,417	)		(1,950,164	)
Total technology know-how, net	$	435,774		$	498,027

CUSTOMER RELATIONSHIP

On July 2, 2010, the Company acquired Gufeng and its wholly-owned subsidiary Tianjuyuan. The preliminary fair value on the acquired customer relationships was estimated to be RMB65,000,000 (or $10,556,000) and is amortized over the remaining useful life of ten years.

	September 30,			June 30,
	2014			2014
Customer relationships	$	10,556,000		$	10,556,000
Less: accumulated amortization		(4,469,314	)		(4,205,414	)
Total customer relationships, net	$	6,086,686		$	6,350,586

NON-COMPETE AGREEMENT

On July 2, 2010, the Company acquired Gufeng and its wholly-owned subsidiary Tianjuyuan. The preliminary fair value on the acquired non-compete agreement was estimated to be RMB 1,320,000 (or $214,368) and is amortized over the remaining useful life of five years using the straight line method.  

	September 30,			June 30,
	2014			2014
Non-compete agreement	$	214,368		$	214,368
Less: accumulated amortization		(182,213	)		(171,494	)
Total non-compete agreement, net	$	32,155		$	42,874

TRADEMARKS

On July 2, 2010, the Company acquired Gufeng and its wholly-owned subsidiary Tianjuyuan. The preliminary fair value on the acquired trademarks was estimated to be RMB40,700,000 (or $6,609,680) and is subject to an annual impairment test.

AMORTIZATION EXPENSE

Estimated amortization expenses of intangible assets for the next five twelve months periods ended September 30, 2014, are as follows:

AMORTIZATION TABLE
Year Ends	Expense ($)
September 30, 2015		1,612,251
September 30, 2016		1,558,659
September 30, 2017		1,258,111
September 30, 2018		1,320,364
September 30, 2019		1,320,364

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CHINA GREEN AGRICULTURE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2014

NOTE 6 - ACCRUED EXPENSES AND OTHER PAYABLES

Accrued expenses and other payables consist of the following:

	September 30,		June 30,
	2014		2014
Payroll payable	$	7,964	$	7,964
Welfare payable		166,727		166,727
Accrued expenses		3,205,855		2,948,727
Other payables		904,332		1,049,783
Other levy payable		135,872		135,872
Total	$	4,420,750	$	4,309,073

NOTE 7 - AMOUNT DUE TO RELATED PARTIES

As of September 30, 2014 and June 30, 2014, the amount due to related parties was $1,958,736 and $1,758,336, respectively. At September 30, 2014 and June 30, 2014, $1,136,800 and $1,136,800, respectively were amounts that Gufeng borrowed from a related party, Xi’an Techteam Science & Technology Industry (Group) Co. Ltd., a company controlled by Mr. Tao Li, Chairman and CEO of the Company, represent unsecured, non-interest bearing loans that are due on demand.  These loans are not subject to written agreements.

On November 1, 2013, Yuxing entered into an agreement with Xi'an Techteam Investment Holding Group (“Techteam Investment”), a holding company owned and controlled by Mr. Tao Li, Chairman and CEO of the Company, to delegate Techteam Investment to procure certain inventories from the market from November 1, 2013 to June 30, 2014 (the “Agreement Period”). During the Agreement Period, Techteam Investment advances procurement payment to vendors, and Yuxing repays the outstanding procurement amount to Techteam Investment periodically. Techteam Investment receives no commission or compensation in this process. The total amount under this Agreement is $133,168.

On August 10, 2010, Yuxing, entered into an agreement with Xi’an Kingtone Information Technology Co., Ltd. (“Kingtone Information”), the contractually-controlled operating subsidiary of Kingtone Wirelessinfo Solution Holding Ltd (“Kingtone”), whose Chairman is Mr. Tao Li, the Company’s Chairman and CEO. Pursuant to the agreement, Kingtone Information was responsible for developing certain electronic control systems for Yuxing. The total contracted value of this agreement, including value-added taxes and other taxes, is RMB3,030,000, or approximately $492,072. The project is currently ongoing, and RMB1,212,000 or $196,829 had been paid by Yuxing to Kingtone as of September 30, 2014.

On June 29, 2014, Jinong signed an office lease with Kingtone Information. Pursuant to the lease, Jinong rented 612 square meters (approximately 6,588 square feet) of office space from Kingtone Information. The lease provided for a two-year term effective as of July 1, 2014 with monthly rent of RMB24,480 (approximately $4,000).

NOTE 8- LOAN PAYABLES

As of September 30, 2014, the short-term loan payables consist of eleven loans which mature on dates ranging from October 29, 2014 through September 23, 2015 with interest rates ranging from 6.00% to 7.80%. The loans No 4,7 and 8 below are collateralized by Tianjuyan’s land use right and building ownership right. The loan No.5 is collateralized by deposit. The loans No.3 collateralized by Jinong’s land use right and Jinong’s credit. The loan No. 6 and 10 are guaranteed by Jinong’s credit. The loans No. 1, 2 and 11 are guaranteed by a bonding company in Zhongguancun Beijing, and counter guaranteed by Jinong’s credit. The loan No.9 is guaranteed by Jinong and Tianjuyuan’s deposit.

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CHINA GREEN AGRICULTURE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2014

No.	Payee	Loan period per agreement		Interest Rate			As of Sep 30, 2014
1	Beijing International Trust Co., Ltd		Oct 30, 2013- Oct 29, 2014		7.80	%	$	1,299,200
2	Beijing International Trust Co., Ltd		Dec 12, 2013 - Dec 11, 2014		7.80	%		1,299,200
3	Bank of Tianjin- Beijing Branch		Jan 8, 2014- Jan 7, 2015		6.60	%		5,684,000
4	Agriculture Bank of China-Pinggu Branch		Jan 15, 2014-Jan 14, 2015		6.60	%		1,364,160
5	Bank of Tianjin- Beijing Branch		Jan 23, 2014- Jan 22, 2015		6.00	%		3,053,120
6	China Merchants Bank- Chaoyangmen Branch		Feb 19, 2014- Feb 18, 2015		7.20	%		2,436,000
7	Agriculture Bank of China-Pinggu Branch		Mar 24, 2014- Mar 23, 2015		6.60	%		1,299,200
8	Agriculture Bank of China-Pinggu Branch		Apr 25, 2014- Apr 24, 2015		6.60	%		1,640,240
9	Bank of Beijing- Pinggu Branch		Aug 6, 2014- Aug 5, 2015		7.20	%		1,624,000
10	China Merchants Bank- Chaoyangmen Branch		Aug 27, 2014- Aug 26, 2015		7.80	%		1,624,000
11	Beijing International Trust Co., Ltd		Sep 24, 2014- Sep 23, 2015		7.80	%		1,624,000
	Total						$	22,947,120

As of June 30, 2014, the short-term loan payables consist of eleven loans which mature on dates ranging from August 14, 2014 through April 24, 2015 with interest rates ranging from 6.00% to 7.80%. The loans No. 7, 10 and 11 below are collateralized by Tianjuyan’s land use right and building ownership right. The loan No. 2 is collateralized by Gufeng and Tianjuyuan. The loan No.8 is collateralized by deposit. The loans No. 1, 3, 4, 5 and 9 are guaranteed by Jinong’s credit. The loan No. 6 is collateralized by the land use rights of Jinong. The loans No. 1 and 2 were subsequently paid off during August 2014.

No.	Payee	Loan period per agreement		Interest Rate		As of June 30, 2014
1	China Merchants Bank Chaoyang Branch		Feb 25, 2014 - Aug 14, 2014	6.90	%	$	2,030,000
2	Beijing Bank Pinggu Branch		Aug 16, 2013 - Aug 15, 2014	7.20	%		1,624,000
3	Beijing International Trust Co., Ltd		Sep 25, 2013 - Sep 24, 2014	7.80	%		1,624,000
4	Beijing International Trust Co., Ltd		Oct 30, 2013-Oct 29, 2014	7.80	%		1,624,000
5	Beijing International Trust Co., Ltd		Dec 12, 2013-Dec 11, 2014	7.80	%		1,624,000
6	Tianjin Bank Beijing Branch		Jan 8, 2014-Jan 7, 2015	6.60	%		5,684,000
7	Agriculture Bank of China-Pinggu Branch		Jan 15, 2014-Jan 14, 2015	6.60	%		1,364,160
8	Tianjin Bank Beijing Branch		Jan 23, 2014 - Jan 22,2015	6.00	%		3,053,120
9	China Merchants Bank Chaoyang Branch		Feb 19, 2014-Feb 18, 2015	7.20	%		2,436,000
10	Agriculture Bank of China-Pinggu Branch		Mar 24, 2014- Mar 23, 2015	6.60	%		1,299,200
11	Agriculture Bank of China-Pinggu Branch		Apr 25, 2014- Apr 24, 2015	6.60	%		1,640,240
	Total					$	24,002,720

The interest expense from short-term loans were $455,744 and $233,186 for the three months ended September 30, 2014 and 2013, respectively.

NOTE 9 – TAXES PAYABLE

Enterprise Income Tax

Effective January 1, 2008, the Enterprise Income Tax (“EIT”) law of the PRC replaced the tax laws for Domestic Enterprises (“DEs”) and Foreign Invested Enterprises (“FIEs”). The EIT rate of 25% replaced the 33% rate that was applicable to both DEs and FIEs. The two year tax exemption and three year 50% tax reduction tax holiday for production-oriented FIEs was eliminated. Since January 1, 2008, Jinong became subject to income tax in China at a rate of 15% as a high-tech company, as a result of the expiration of its tax exemption on December 31, 2007. Accordingly, it made provision for income taxes for the three months ended September 30, 2014 and 2013 of $1,516,587 and $1,825,650, respectively, which is mainly due to the operating income from Jinong. Gufeng is subject to 25% EIT rate and thus it made provision for income taxes of $487,008 and $835,700 for the three months ended September 30, 2014 and 2013, respectively.

12

CHINA GREEN AGRICULTURE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2014

Value-Added Tax

All of the Company’s fertilizer products that are produced and sold in the PRC were subject to a Chinese Value-Added Tax (VAT) of 13% of the gross sales price. On April 29, 2008, the PRC State of Administration of Taxation (SAT) released Notice #56, “Exemption of VAT for Organic Fertilizer Products”, which allows certain fertilizer products to be exempt from VAT beginning June 1, 2008. The Company submitted the application for exemption in May 2009, which was granted effective September 1, 2009, continuing through December 31, 2015. The VAT exemption applies to all but a nominal amount of agricultural products sold by Jinong.

Income Taxes and Related Payables

Taxes payable consist of the following:

	September 30,		June 30,
	2014		2014
VAT provision	$	52,840	$	61,506
Income tax payable		3,171,512		1,166,683
Other levies		709,602		693,266
Total	$	3,933,954	$	1,921,455

Tax Rate Reconciliation

Our effective tax rates were approximately 19.8% and 20.4% for the three months ended September 30, 2014 and 2013, respectively. Substantially all of the Company’s income before income taxes and related tax expense are from PRC sources. Actual income tax benefit reported in the consolidated statements of income and comprehensive income differ from the amounts computed by applying the US statutory income tax rate of 34% to income before income taxes for the three months ended September 30, 2014 and 2013, for the following reasons:

September 30, 2014
	China					United States
	15% - 25%					34%					Total
Pretax income (loss)	$	12,208,311				$	(2,105,634	)			$	10,102,677
Expected income tax expense (benefit)		3,052,078		25.0	%		(715,916	)	34.0	%		2,336,162
High-tech income benefits on Jinong		(591,405	)	(4.8	)%		-		-			(591,405	)
Losses from subsidiaries in which no benefit is recognized		(457,078	)	(3.7	)%		-		-			(457,078	)
Change in valuation allowance on deferred tax asset from US tax benefit		-					715,916		(34.0	)%		715,916
Actual tax expense	$	2,003,595		16.4	%	$	-		-	%	$	2,003,595		19.8	%

13

CHINA GREEN AGRICULTURE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2014

September 30, 2013
	China					United States
	15% - 25%					34%					Total
Pretax income (loss)	$	15,349,063				$	(2,309,256	)			$	13,039,807
Expected income tax expense (benefit)		3,837,266		25.0	%		(785,147	)	34.0	%		3,052,119
High-tech income benefits on Jinong		(696,553	)	(4.5	)%		-		-			(696,553	)
Losses from subsidiaries in which no benefit is recognized		(479,363	)	(3.1	)%		-		-			(479,363	)
Change in valuation allowance on deferred tax asset from US tax benefit		-					785,147		(34.0	)%		785,147
Actual tax expense	$	2,661,350		17.3	%	$	-		-	%	$	2,661,350		20.4	%

NOTE 10 – STOCKHOLDERS’ EQUITY

Common Stock

On September 26, 2013, the Company issued 118,778 shares of common stock at the market price of $4.42 per share to Mr. Tao Li as the repayment for $200,000 he previously advanced to the Company and $325,000 for the unpaid compensation.

On September 28, 2013, the Company granted an aggregate of 1,750,000 shares of restricted stock under the 2009 Plan to certain executive officers, directors and employees. among which (i) 480,000 shares of restricted stock to Mr. Tao Li, the CEO; (ii) 200,000 shares of restricted stock to Mr. Ken Ren, the CFO, (iii) 40,000 shares of restricted stock to Mr. Yizhao Zhang, 30,000 shares of restricted stock to Ms. Yiru Shi, and 20,000 shares of restricted stock to Mr. Lianfu Liu, each an independent director of the Company; and (iv) 980,000 shares of restricted stock to 220 employees. The stock grants are subject to time-based vesting schedules, vesting in various installments until March 31, 2014 for the CFO and the three independent directors, until March 31, 2015 for the CEO and until December 31, 2015 for the employees.

During the year ended June 30, 2014, the Company issued 17,356 shares of common stock for consulting services valued at $65,535. The shares were valued at the market price on the date of issuance.

Effective July 28, 2014, the Company issued 23,752 shares of common stock for professional fees valued at $54,444. The shares were valued at the market price on the date of issuance.

On September 30, 2014, the Company granted an aggregate of 1,750,000 shares of restricted stock under the 2009 Plan to certain executive officers, directors and employees. among which (i) 240,000 shares of restricted stock to Mr. Tao Li, the CEO; (ii) 100,000 shares of restricted stock to Mr. Ken Ren, the CFO, (iii) 40,000 shares of restricted stock to Mr. Yizhao Zhang, 30,000 shares of restricted stock to Ms. Yiru Shi, and 20,000 shares of restricted stock to Mr. Lianfu Liu, each an independent director of the Company; and (iv) 1,320,000 shares of restricted stock to key employees.   The stock grants are subject to time-based vesting schedules, vesting in various installments until March 31, 2015 for the CFO and the three independent directors, until June 30, 2015 for the CEO and until December 31, 2016 for the employees.

On September 12, 2014, the Company’ Compensation Committee, approved the issuance of 87,719 shares of common stock to its ten employees under the Company’s Amended and Restated 2012 Employee Stock Purchase Plan for a cash contribution of a total of $200,000. The issuance is at the closing price $2.28 per share on September 11, 2014.

Preferred Stock

Under the Company’s Articles of Incorporation, the Board has the authority, without further action by stockholders, to designate up to 20,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges, qualifications and restrictions granted to or imposed upon the preferred stock, including dividend rights, conversion rights, voting rights, rights and terms of redemption, liquidation preference and sinking fund terms, any or all of which may be greater than the rights of the common stock. If the Company sells preferred stock under its registration statement on Form S-3, it will fix the rights, preferences, privileges, qualifications and restrictions of the preferred stock of each series in the certificate of designation relating to that series and will file the certificate of designation that describes the terms of the series of preferred stock the Company offers before the issuance of the related series of preferred stock.

14

CHINA GREEN AGRICULTURE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2014

As of September 30, 2014, the Company has 20,000,000 shares of preferred stock authorized, with a par value of $.001 per share, of which no shares are issued or outstanding.

NOTE 11 – STOCK OPTIONS

There were no issuances of stock options during the three months ended September 30, 2014.

Options outstanding and related weighted average price and intrinsic value are as follows:

			Weighted
			Average
	Number		Exercise		Aggregate
	of Shares		Price		Intrinsic Value
Outstanding, June 30, 2014		115,099	$	14.66	$	-
Granted		-
Forfeited/Canceled		-
Exercised		-
Outstanding, September 30, 2014		115,099	$	14.66	$	-

NOTE 12 –CONCENTRATIONS AND LITIGIATION

Market Concentration

All of the Company's revenue-generating operations are conducted in the PRC. Accordingly, the Company's business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC, and by the general state of the PRC's economy.

The Company's operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among other things, the political, economic and legal environment and foreign currency exchange. The Company’s results may be adversely affected by, among other things, changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation.

Vendor and Customer Concentration

There were two vendors from which the Company purchased 21.5% and 12.5% of its raw materials for the three months ended September 30, 2014. Total purchase from these two venders amounted to $16,907,966 as September 30, 2014. The total amount payable to these two venders as of September 30, 2014 was $4,700,415.

There were two vendors from which the Company purchased 16.1% and 15.1% of its raw materials for the three months ended September 30, 2013. Total purchase from these two venders amounted to $6,399,605 as September 30, 2013. The total amount payable to these two venders as of September 30, 2013 was $3,269,988.

One customer was accounted for 11.5% of the Company’s sales for the three months ended September 30, 2014. There was no customer that accounted for over 10% of the total sales as of three months ended September 30, 2013.

15

CHINA GREEN AGRICULTURE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2014

Litigation

On October 15, 2010, a class action lawsuit was filed against the Company and certain of its current and former officers in the United States District Court for the District of Nevada (the "Nevada Federal Court") on behalf of purchasers of the Company’s common stock between November 12, 2009 and September 1, 2010. The last version of the complaint alleges that the Company and certain current and former officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Sections 11, 12(a)(2), and 15 of the Securities Act of 1933, as amended, by making material misstatements and omissions in the Company’s financial statements, securities offering documents, and related disclosures during the class period. On October 7, 2011, the defendants moved to dismiss the amended complaint and to strike portions of it. On November 2, 2012, the Court issued an order dismissing the claims for violation of sections 11, 12(a)(2) and 15 of the Securities Act of 1933 as to all defendants and dismissing two individual defendants from the complaint but allowing the claims for violations of section 10(b) and 20(a) of the Securities Exchange Act of 1934 to continue with respect to the Company and the remaining of the individual defendants. The Nevada Federal Court also denied the defendants’ motion to strike. The parties to the securities class action held mediation on March 7, 2013, which led to an agreement in principle to settle the case for a payment of $ 2.5 million by the Company’s insurers in exchange for a release of all claims against all defendants. On August 12, 2014, the Nevada Federal Court entered an order and final judgment granting final approval to the settlement and dismissing all claims in accordance with the settlement agreement. The Company’s insurers funded the full amount of the settlement of $2.5 million.

NOTE 13 – SEGMENT REPORTING

As of September 30, 2014, the Company was organized into three main business segments based on location and product: Jinong (fertilizer production), Gufeng (fertilizer production), and Yuxing (agricultural products production). Each of the three operating segments referenced above has separate and distinct general ledgers. The chief operating decision maker (“CODM”) receives financial information, including revenue, gross margin, operating income and net income produced from the various general ledger systems to make decisions about allocating resources and assessing performance; however, the principal measure of segment profitability or loss used by the CODM is net income by segment.

	Three months ended September 30,
Revenues from unaffiliated customers:	2014			2013
Jinong	$	34,464,165		$	31,762,002
Gufeng		15,986,074			17,756,082
Yuxing		851,551			785,263
Consolidated	$	51,301,790		$	50,303,347
Operating income :
Jinong	$	9,933,764		$	11,861,728
Gufeng		2,395,978			3,677,606
Yuxing		262,993			103,646
Reconciling item (1)		-			-
Reconciling item (2)		(684,934	)		(324,764	)
Reconciling item (2)--stock compensation		(1,420,720	)		(1,984,494	)
Consolidated	$	10,487,081		$	13,333,722
Net income:
Jinong	$	8,431,966		$	10,088,808
Gufeng		1,410,711			2,495,095
Yuxing		362,039			103,810
Reconciling item (1)		20			-
Reconciling item (2)		(2,105,654	)		(2,309,256	)
Consolidated	$	8,099,082		$	10,378,457
Depreciation and Amortization:
Jinong	$	10,568,569		$	4,608,681
Gufeng		836,514			731,201
Yuxing		344,110			326,960
Consolidated	$	11,749,194		$	5,666,842
Interest expense:
Gufeng		455,744			233,186
Consolidated	$	455,744		$	233,186
Capital Expenditure:
Jinong	$	4,254,470		$	25,771,964
Gufeng		9,187			4,900
Yuxing		259,375			641,270
Consolidated	$	4,523,033		$	26,418,134

16

CHINA GREEN AGRICULTURE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2014

	As of September 30,			As of June 30,
	2014			2014
Identifiable assets:
Jinong	$	204,001,609		$	195,331,283
Gufeng		166,678,111			153,655,110
Yuxing		43,896,977			44,003,970
Reconciling item (1)		189,690			123,753
Reconciling item (2)		(2,637	)		(3,906	)
Consolidated	$	414,763,750		$	393,110,210

(1) Reconciling amounts refer to the unallocated assets or expenses of Green New Jersey.

(2) Reconciling amounts refer to the unallocated assets or expenses of the Parent Company.

NOTE 14 - COMMITMENTS AND CONTINGENCIES

On June 29, 2014, Jinong signed an office lease with Kingtone Information. Pursuant to the lease, Jinong rented 612 square meters (approximately 6,588 square feet) of office space from Kingtone Information. The lease provided for a two-year term effective as of July 1, 2014 with monthly rent of approximately $4,000 (RMB 24,480).

In January 2008, Jintai signed a ten-year land lease with Xi’an Jinong Hi-tech Agriculture Demonstration Zone for a monthly rent of $844 (RMB 5,200). However, the land lease contract was terminated since Company sold Jintai’s assets by the year ended June 30, 2014.

In February 2004, Tianjuyuan signed a fifty-year lease with the village committee of Dong Gao Village and Zhen Nan Zhang Dai Village in the Beijing Ping Gu District, at a monthly rent of $480 (RMB 2,958).

Accordingly, the Company recorded an aggregate of $3,975 and $15,882 as rent expenses for the three months ended September 30, 2014 and 2013, respectively. Rent expenses for the next five years months ended September 30, are as follows:

Years ending September 30,
2015	$	15,898
2016		15,898
2017		15,898
2018		8,298
2019		5,765

17

CHINA GREEN AGRICULTURE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2014

NOTE 15 VARIABLE INTEREST ENTITIES

Green Nevada through one of its subsidiaries, Jinong, entered into a series of agreements (the “VIE Agreements”) with Yuxing for it to qualify as a VIE, effective June 16, 2013. The VIE Agreements are as follows:

Entrusted Management Agreement

Pursuant to the terms of a certain Entrusted Management Agreement dated June 16, 2013 among Yuxing, Jinong and the shareholder of Yuxing (the “Entrusted Management Agreement”), Yuxing and its shareholder agreed to entrust the operations and management of its business to Jinong. According to the Entrusted Management Agreement, Jinong possesses the full and exclusive right to manage Yuxing’s operations, assets and personnel, has the right to control all of Yuxing's cash flows through an entrusted bank account, is entitled to Yuxing's net profits as a management fee, is obligated to pay all of Yuxing’s payables and loan payments, and bears all losses of Yuxing. The Entrusted Management Agreement will remain in effect until (i) the parties mutually agree to terminate the agreement; (ii) the dissolution of Yuxing or (iii) Jinong acquires all of the assets or equity of Yuxing (as more fully described below under “Exclusive Option Agreement”).

Exclusive Product Supply Agreement

Pursuant to the terms of a certain Exclusive Product Supply Agreement dated June 16, 2013 between Yuxing and Jinong (“the Exclusive Product Supply Agreement”), Jinong is the exclusive product provider to Yuxing. Yuxing agreed to pay Jinong all fees payable for products supply prior to making any payments under the Entrusted Management Agreement. Any payment from Yuxing to Jinong must comply with applicable Chinese laws. The Exclusive Product Supply Agreement shall remain in effect until (i) the parties mutually agree to terminate the agreement; (ii) the dissolution of Yuxing or (iii) Jinong acquires Yuxing (as more fully described below under “Exclusive Option Agreement”).

Shareholder’s Voting Proxy Agreement

Pursuant to the terms of a certain Shareholder’s Voting Proxy Agreement dated June 16, 2013 among Jinong and the shareholder of Yuxing (the “Shareholder’s Voting Proxy Agreement”), the shareholder of Yuxing irrevocably appointed Jinong as their proxy to exercise on such shareholder’s behalf all of her voting rights as shareholder pursuant to PRC law and the Articles of Association of Yuxing, including the appointment and election of directors of Yuxing. Jinong agreed that it shall maintain a board of directors the composition of which will be the members of the Board of Green Nevada, except those directors that are employed solely for the purpose of satisfying listing or financing requirements of Green Nevada, if any. The Shareholder’s Voting Proxy Agreement will remain in effect until Jinong acquires all of the assets or equity of Yuxing.

Exclusive Option Agreement

Pursuant to the terms of a certain Exclusive Option Agreement dated June 16, 2013 among Jinong, Yuxing and the shareholder of Yuxing (the “Exclusive Option Agreement”), the shareholder of Yuxing granted Jinong an irrevocable and exclusive purchase option (the “Option”) to acquire Yuxing’s equity interests and/or remaining assets, but only to the extent that the acquisition does not violate limitations imposed by PRC law on such transactions. The Option is exercisable at any time at Jinong’s discretion so long as such exercise and subsequent acquisition of Yuxing does not violate PRC law. The consideration for the exercise of the Option is to be determined by the parties and memorialized in the future by definitive agreements setting forth the kind and value of such consideration. To the extent Yuxing shareholder receive any of such consideration, the Option requires them to transfer (and not retain) the same to Yuxing or Jinong. The Exclusive Option Agreement may be terminated by mutual agreement or by 30 days written notice by Jinong.

18

CHINA GREEN AGRICULTURE, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2014

Equity Pledge Agreement

Pursuant to the terms of a certain Equity Pledge Agreement dated June 16, 2013 among Jinong and the shareholder of Yuxing (the “Pledge Agreement”), the shareholder of Yuxing pledged all of her equity interests in Yuxing, including the proceeds thereof, to guarantee all of Jinong's rights and benefits under the Entrusted Management Agreement, the Exclusive Product Supply Agreement, the Shareholder’ Voting Proxy Agreement and the Exclusive Option Agreement. Prior to termination of the Pledge Agreement, the pledged equity interests cannot be transferred without Jinong's prior written consent. The Pledge Agreement may be terminated only upon the written agreement of the parties.

As a result of these contractual arrangements, Green Nevada is able to exercise control over Yuxing and was entitled to substantially all of the economic benefits of Yuxing through its subsidiary, Jinong. Therefore, Green Nevada consolidates Yuxing in accordance with ASC 810-10 (“Consolidation of Variable Interest Entities”) since the date of the VIE Agreements.

The following financial statement amounts and balances of the VIE were included in the accompanying consolidated financial statements as of September 30, 2014 and June 30, 2014:

	September 30,		June 30,
	2014		2014
ASSETS
Current Assets
Cash and cash equivalents	$	29,067	$	102,777
Accounts receivable, net		180,342		61,248
Inventories		16,462,953		16,538,621
Other current assets		31,931		12,745
Advances to suppliers		42,060		53,168
Total Current Assets		16,746,353		16,768,559
Plant, Property and Equipment, Net		16,424,845		16,450,206
Construction In Progress		48,883		48,883
Intangible Assets, Net		10,676,896		10,736,322
Total Assets	$	43,896,977	$	44,003,970
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable	$	269,239	$	739,526
Accrued expenses and other payables		3,556		3,086
Amount due to related parties		43,142,842		43,142,280
Total Current Liabilities		43,415,637		43,884,892
Stockholders' equity		481,340		119,078
Total Liabilities and Stockholders' Equity	$	43,896,977	$	44,003,970

	Three months ended September 30,
	2014		2013
Revenue	$	851,551	$	785,263
Expenses		489,512		681,453
Net income (loss)	$	362,039	$	103,810

19

NOTE 16 – SUBSEQUENT EVENT

On October 1, 2014, the Company’s Board of Directors approved a private placement investment in the Company’s common stock from Mr. Tao Li, Chairman and CEO of the Company. Subject to the stockholders approval, the Company may issue 496,445 shares of its common stock at a purchase price of $2.25 per share, the closing price of the Common Stock that day, for an aggregate purchase price of $1,117,000.

On October 17, 2014, the Company’s Compensation Committee approved the issuance of 464,776 shares of Common Stock to its 47 employees under the Company’s Amended and Restated 2012 Employee Stock Purchase Plan for a cash contribution of a total of $1,045,757. The issuance is at the closing price $2.25 per share on October 16, 2014.

On September 26, 2014, the Board of Directors approved the issuance of 5,415 shares to its consultant for its consulting services valued at $14,000, and 17,367 shares of common stock to its counsel for the legal services valued at $36,298.47. The shares were not issued until October 15, 2014.

20

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our consolidated financial statements and the notes to those financial statements appearing elsewhere in this report. This discussion and analysis contains forward-looking statements that involve significant risks and uncertainties. As a result of many factors, such as the slow-down of the macro-economic environment in China and its impact on economic growth in general, the competition in the fertilizer industry and the impact of such competition on pricing, revenues and margins, the weather conditions in the areas where our customers are based, the cost of attracting and retaining highly skilled personnel, the prospects for future acquisitions, and the factors set forth elsewhere in this report, our actual results may differ materially from those anticipated in these forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the forward-looking statements contained in this report will in fact occur. You should not place undue reliance on the forward-looking statements contained in this report.

The forward-looking statements speak only as of the date on which they are made, and, except to the extent required by U.S. federal securities laws, we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. Further, the information about our intentions contained in this report is a statement of our intention as of the date of this report and is based upon, among other things, the existing regulatory environment, industry conditions, market conditions and prices, and our assumptions as of such date. We may change our intentions, at any time and without notice, based upon any changes in such factors, in our assumptions or otherwise.

Unless the context indicates otherwise, as used in the following discussion, “Company”, “we,” “us,” and “our,” refer to (i) China Green Agriculture, Inc. (“Green Nevada”), a corporation incorporated in the State of Nevada; (ii) Green Agriculture Holding Corporation (“Green New Jersey”), a wholly-owned subsidiary of Green Nevada incorporated in the State of New Jersey; (iii) Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd. (“Jinong”), a wholly-owned subsidiary of Green New Jersey organized under the laws of the PRC; (iv) Xi’an Jintai Agriculture Technology Development Company (“Jintai”), a wholly-owned subsidiary of Jinong in the PRC, (v) Xi’an Hu County Yuxing Agriculture Technology Development Co., Ltd. (“Yuxing”), a Variable Interest Entity (“VIE”) controlled by Jinong in the PRC; (vi) Beijing Gufeng Chemical Products Co., Ltd. (“Gufeng”), a wholly-owned subsidiary of Jinong in the PRC, and (vii) Beijing Tianjuyuan Fertilizer Co., Ltd. (“Tianjuyuan”), a wholly-owned subsidiary of Gufeng in the PRC.

Unless the context otherwise requires, all references to (i) “PRC” and “China” are to the People’s Republic of China; (ii) “U.S. dollar,” “$” and “US$” are to United States dollars; and (iii) “RMB”, “Yuan” and Renminbi are to the currency of the PRC or China.

Overview

We are engaged in the research, development, production and sale of various types of fertilizers and agricultural products in the PRC through our wholly-owned Chinese subsidiaries, Jinong and Gufeng (including Gufeng’s subsidiary Tianjuyuan), and our VIE, Yuxing. Our primary business is fertilizer products, specifically humic-acid based compound fertilizer produced by Jinong and compound fertilizer, blended fertilizer, organic compound fertilizer, slow-release fertilizer, highly-concentrated water-soluble fertilizer and mixed organic-inorganic compound fertilizer produced by Gufeng. In addition, through Yuxing, we develop and produce various agricultural products, such as top-grade fruits, vegetables, flowers and colored seedlings. For financial reporting purposes, our operations are organized into three business segments: fertilizer products (Jinong), fertilizer products (Gufeng) and agricultural products production (Yuxing).

The fertilizer business conducted by Jinong and Gufeng generated approximately 98.3% and 98.4% of our total revenues for the three months ended September 30, 2014 and 2013, respectively. Yuxing serves as a research and development base for our fertilizer products.   Previously, Jintai had served in that capacity as well. However, as reported in our previous annual and quarterly reports, as a result of environmental degradation that affect Jintai’s flora, we started to relocate Jintai’s facilities to Yuxing. As a result, Jintai has not been in operation since the ongoing relocation commenced in March 1, 2012 and was now in its final stage of dissolution.

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Fertilizer Products

As of September 30, 2014, we had developed and produced a total of 456 different fertilizer products in use, of which 125 were developed and produced by Jinong and 331 by Gufeng.

Below is a table that shows the metric tons of fertilizer sold by Jinong and Gufeng and the revenue per ton for the periods indicated:

	Three Months Ended September 30,				Change 2013 to 2014
	2014		2013		Amount			%
	(metric tons)
Jinong		14,618		17,872		(3,224	)		18.0	%
Gufeng		38,101		38,075		26			0.1	%
		52,719		55,947		(3,198	)

	Three Months Ended September 30,
	2014		2013
	(revenue per ton)
Jinong	$	1,588	$	1,777
Gufeng		416		466

For the three months ended September 30, 2014, we sold approximately 52,719 metric tons of fertilizer products, as compared to 55,947 metric tons for the three months ended September 30, 2013. For the three months ended September 30, 2014, Jinong sold approximately 14,618 metric tons of fertilizer products, a decrease of 3,224 metric tons, or 18.0%, as compared to 17,872 metric tons for the three months ended September 30, 2013. The decrease is due to Jinong’s implementation of its sales strategy that focus on producing high-margin liquid fertilizer in replacing powder fertilizer during the last three months. For the three months ended September 30, 2014, Gufeng sold approximately 38,101 metric tons of fertilizer products, as compared to 38,075 metric tons for the three months ended September 30, 2013. 

Our sales of fertilizer products to five provinces accounted for approximately 40.8% of our fertilizer revenue for three months ended September 30, 2014. Specifically, the provinces and their respective percentage contributed to our fertilizer revenues were: Shaanxi (16.0%), Beijing (12.6%), Shandong (7.4%), Jiangsu (7.2%) and Hebei (5.8%).

As of September 30, 2014, we had a total of 1,229 distributors covering 27 provinces, four autonomous regions and three central government-controlled municipalities in China. Jinong had 961 distributors in China. Jinong’s sales are not dependent on any single distributor or any group of distributors. Jinong’s top five distributors accounted for 1.7% of its fertilizer revenues for the three months ended September 30, 2014. Gufeng had 268 distributors, including some large state-owned enterprises. Gufeng’s top five distributors accounted for 81.0% of its revenues for the three months ended September 30, 2014.

Agricultural Products

Through Yuxing, we develop, produce and sell high-quality flowers, green vegetables and fruits to local marketplaces and various horticulture and planting companies. We also use certain of Yuxing’s greenhouse facilities to conduct research and development activities for our fertilizer products. The three PRC provinces that accounted for 90.8% of our agricultural products revenue for the three months ended September 30, 2014 were Shaanxi (82.3%), Sichuan (5.4%), and Hubei (2.9%).

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Recent Developments

New Products

During the three months ended September 30, 2014, Jinong did not launch any new fertilizer product. However, Jinong added 31 new distributors during this period. Jinong’s new distributors accounted for approximately $1,223,957, or 3.6% of Jinong’s fertilizer revenues for the three months ended September 30, 2014. During the quarter ended September 30, 2014, no revenue of Jinong was attributable to the new products distributed by its new distributors.

During the three months ended September 30, 2014, Gufeng launched three new fertilizer products. Gufeng’s new products generated approximately $308,618, or 1.9% of Gufeng’s fertilizer revenues for the three months ended September 30, 2014. Gufeng also added five new distributors during the three months ended September 30, 2014, which accounted for approximately $2,804,765, or 17.5%, of Gufeng’s fertilizer revenues. During the quarter ended September 30, 2014, no revenue of Gufeng was attributable to the new products distributed by its new distributors.

Business development

The agriculture industry in China has currently undergone a revolutionary restructuring throughout the country. Such restructuring is characterized by the massive consolidation of arable farming lands along with the ongoing urbanization, the replacement of traditional distribution of agricultural material and goods with the new online, offline or online-to-offline channels, and the transition from historically smaller farmer families and farms to large-scale farming organizations.

To accommodate the Company's growth in such restructuring environment, we currently established a comprehensive business framework that consists of various online, offline, online-to-offline ("O2O") infrastructure channels to enhance the sales strategies of the Company's products. It is critical for us to own such infrastructure assets to induce offline demands, and then transform such demands to online orders via offline network of retail outlets. Our efforts for the above framework include the development of the Company's proprietary internet platform and the sale of the Company's fertilizer products at the subsidiary level. The platform has become live at http://www.900cga.com since the end of October 2014.

Results of Operations

Three months ended September 30, 2014 Compared to the Three months ended September 30, 2013.

	For the Three Months Ended September 30,
	2014			2013			change $			change %
Sales
Jinong	$	34,464,165		$	31,762,002		$	2,702,163			8.5	%
Gufeng		15,986,074			17,756,082			(1,770,008	)		-10.0	%
Yuxing		851,551			785,263			66,288			8.4	%
Net sales		51,301,790			50,303,347			998,443			2.0	%
Cost of goods sold
Jinong		13,380,623			13,969,831			(589,208	)		-4.2	%
Gufeng		12,599,185			13,209,632			(610,447	)		-4.62	%
Yuxing		648,548			654,196			(5,648	)		-0.9	%
Cost of goods sold		26,628,356			27,833,659			(1,205,303	)		-4.3	%
Gross profit		24,673,434			22,469,688			2,203,746			9.8	%
Operating expenses
Selling expenses		11,066,721			5,796,190			5,270,531			90.9	%
General and administrative expenses		3,119,632			3,339,776			(220,144	)		-6.6	%
Total operating expenses		14,186,353			9,135,966			5,050,387			55.3	%
Income from operations		10,487,081			13,333,722			(2,846,641	)		-21.3	%
Other income (expense)
Other income (expense)		41,955			(116,383	)		158,338			-136.0	%
Interest income		29,385			55,654			(26,269	)		-47.2	%
Interest expense		(455,744	)		(233,186	)		(222,558	)		95.4	%
Total other income (expense)		(384,404	)		(293,915	)		(90,489	)		30.8	%
Income before income taxes		10,102,677			13,039,807			(2,937,130	)		-22.5	%
Provision for income taxes		2,003,595			2,661,350			(657,755	)		-24.7	%
Net income		8,099,082			10,378,457			(2,279,375	)		-22.0	%
Other comprehensive income
Foreign currency translation gain		6,289			694,716			(688,427	)		-99.1	%
Comprehensive income	$	8,105,371		$	11,073,173		$	(2,967,802	)		-26.8	%
Basic weighted average shares outstanding		32,377,250			29,973,726			2,403,524			8.0	%
Basic net earnings per share	$	0.25		$	0.35		$	(0.10	)		-27.8	%
Diluted weighted average shares outstanding		32,377,250			29,973,726			2,403,524			8.0	%
Diluted net earnings per share	$	0.25		$	0.35		$	(0.10	)		-27.8	%

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Net Sales

Total net sales for the three months ended September 30, 2014 were $51,301,790, an increase of $998,443, or 2.0%, from $50,303,347 for the three months ended September 30, 2013. This increase was due to an increase in Jinong’s net sales offset by a decrease in Gufeng’s net sales.

For the three months ended September 30, 2014, Jinong’s net sales increased $2,702,163, or 8.5%, to $34,464,165 from $31,762,002 for the three months ended September 30, 2013. This increase was mainly attributable to Jinong’s latest implementation of the sales strategy that focus on promoting the sales of high-margin liquid fertilizer despite the decrease in Jinong’s sales volume during the last three months.

For the three months ended September 30, 2014, net sales at Gufeng were $15,986,074, a decrease of $1,770,008 or 10.0% from $17,756,082 for the three months ended September 30, 2013. The decrease was mainly attributable the delayed fertilization time due to climatic impact compared to the same period in last year.

For the three months ended September 30, 2014, Yuxing’s net sales were $851,551, an increase of $66,288 or 8.4%, from $785,263 during the three months ended September 30, 2013. The increase was mainly attributable to the increased in sales demand of Yuxing’s top-grade flowers.

Cost of Goods Sold

Total cost of goods sold for the three months ended September 30, 2014 was $26,628,356, a decrease of $1,205,303, or 4.3%, from $27,833,659 for the three months ended September 30, 2013. This decrease was mainly due to the 10.0% decrease in Gufeng’s net sales. 

Cost of goods sold by Jinong for the three months ended September 30, 2014 was $13,380,623, a decrease of $589,208, or 4.2%, from $13,969,831 for the three months ended September 30, 2013. The decrease was primarily attributable to lower product costs for the mix of products being sold.

Cost of goods sold by Gufeng for the three months ended September 30, 2014 was $12,599,185, a decrease of $610,447, or 4.6%, from $13,209,632 for the three months ended September 30, 2013 as a result of the reduction in net sales.

For three months ended September 30, 2014, cost of goods sold by Yuxing was $648,548, a decrease of $5,648, or 0.9%, from $654,196 for the three months ended September 30, 2013. The decrease is not significant.

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Gross Profit

Total gross profit for the three months ended September 30, 2014 increased by $2,203,746 to $24,673,434, as compared to $22,469,688 for the three months ended September 30, 2013. Gross profit margin was 48.1% and 44.7% for the three months ended September 30, 2014 and 2013, respectively.

Gross profit generated by Jinong increased by $3,291,371, or 18.5%, to $21,083,542 for the three months ended September 30, 2014 from $17,792,171 for the three months ended September 30, 2013. Gross profit margin from Jinong’s sales was approximately 61.2% and 56.0% for the three months ended September 30, 2014 and 2013, respectively. The increase in gross profit margin was mainly due to the increased weight for higher-margin products sales in Jinong’s total sales due to Jinong’s sales strategy. Jinong has adjusted its production process to focus on producing the high-margin liquid fertilizer during the last three months.

For the three months ended September 30, 2014, gross profit generated by Gufeng was $3,386,889, a decrease of $1,159,561, or 25.5%, from $4,546,450 for the three months ended September 30, 2013. Gross profit margin from Gufeng’s sales was approximately 21.2% and 25.6% for the three months ended September 30, 2014 and 2013, respectively. The decrease in gross profit percentage was mainly due to the increased weight for lower-margin products sales in Gufeng’s total sales answering to market demand.

For the three months ended September 30, 2014, gross profit generated by Yuxing was $203,003, an increase of $71,936, or 54.9% from $131,067 for the three months ended September 30, 2013.  The gross profit margin was approximately 23.8% and 16.7% for the three months ended September 30, 2014 and 2013, respectively. The increase in gross profit percentage was mainly due to the rising price for flowers during the three months ended September 30, 2014, comparing to the same period of 2013.

Selling Expenses

Our selling expenses consisted primarily of amortization of our deferred assets, salaries of sales personnel, advertising and promotion expenses, freight-out costs and related compensation. Selling expenses were $11,066,721, or 21.6%, of net sales for the three months ended September 30, 2014, as compared to 5,796,190 or 11.5% of net sales for the three months ended September 30, 2013, an increase of $5,270,531, or 90.9%. The selling expenses of Gufeng were $185,978 or 1.20% of Gufeng’s net sales for the three months ended September 30, 2014, as compared to $154,010, or 0.9% of Gufeng’s net sales for the three months ended September 30, 2013. The selling expenses of Jinong for the three months ended September 30, 2014 were $10,873,605 or 31.6% of Jinong’s net sales, as compared to selling expenses of $5,629,531, or 17.7% of Jinong’s net sales for the three months ended September 30, 2013. Most of this increase in Jinong’s selling expenses was due to the amortization of $10,331,084 of the deferred tax assets for the three months ended September 30, 2014 related to our business strategy implemented since the first quarter of fiscal year of 2014 that assists distributors in certain marketing efforts and develops standard stores to expand our competitive advantages and market shares.

General and Administrative Expenses

General and administrative expenses consisted primarily of related salaries, rental expenses, business development, depreciation and travel expenses incurred by our general and administrative departments and legal and professional expenses including expenses incurred and accrued for certain litigations. General and administrative expenses were $3,119,632, or 6.1% of net sales for the three months ended September 30, 2014, as compared to $3,339,776, or 6.6%, of net sales for the three months ended September 30, 2013, a decrease of $220,144, or 6.6%. The decrease in general and administrative expenses was mainly due to the related expenses in the stock compensation awarded to the employees which amounted to $1,420,720 for the three months ended September 30, 2014 as compared to $1,984,494 for the three months ended September 30, 2013.

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Total Other Expenses

Total other expenses consisted of income from subsidies received from the PRC government, interest income, interest expenses and bank charges. The total other expense for the three months ended September 30, 2014 was $384,404, as compared to $293,915 for the three months ended September 30, 2013, an increase of $90,489, or 30.8%, which resulted from an increase of $158,338 to $41,955 in other income during the three months ended September 30, 2014, as compared to expense of $116,383 during the three months ended September 30, 2013, a decrease of $26,269 or 47.2%, to $29,385 in interest income during the three months ended September 30, 2014 as compared to $55,654 during the three months ended September 30, 2013; and an increase of $222,558 or 95.4% to $455,744 in interest expenses during the three months ended September 30, 2014, as compared to $233,186 during the three months ended September 30, 2013.

Income Taxes

Jinong is subject to a preferred tax rate of 15% as a result of its business being classified as a High-Tech project under the PRC Enterprise Income Tax Law (“EIT”) that became effective on January 1, 2008. Jinong incurred income tax expenses of $1,516,587 for the three months ended September 30, 2014, as compared to $1,825,650 for the three months ended September 30, 2013, a decrease of $309,063, or 16.9%. The decrease was mainly due to Jinong’s increased selling expense.

Gufeng, subject to a tax rate of 25%, incurred income tax expenses of $487,008 for the three months ended September 30, 2014, as compared to $835,700 for the three months ended September 30, 2013, a decrease of $348,692, or 41.7%, which was primarily due to Gufeng’s decreased net income.

Yuxing has no income tax for the three months ended September 30, 2014 as a result of being exempted from paying income tax due to its products fall into the tax exemption list set out in the EIT.

Net Income

Net income for the three months ended September 30, 2014 was $8,099,082, a decrease of $2,279,375, or 22.0%, compared to $10,378,457 for the three months ended September 30, 2013. The decrease was attributable to the increase in selling expenses offset by an increase in our gross margin. Net income as a percentage of total net sales was approximately 15.8% and 20.6% for the three months ended September 30, 2014 and 2013, respectively.

Discussion of Segment Profitability Measures

As of September 30, 2014, we were engaged in the following businesses: the production and sale of fertilizers through Jinong and Gufeng and the production and sale of high-quality agricultural products by Yuxing. For financial reporting purpose, our operations were organized into three main business segments based on locations and products: Jinong (fertilizer production), Gufeng (fertilizer production) and Yuxing (agricultural products production). Each of the segments has its own annual budget with regard to development, production and sales.  Jintai is in its migrating process into Yuxing.

Each of the three operating segments referenced above has separate and distinct general ledgers. The chief operating decision maker (“CODM”) makes decisions with respect to resources allocation and performance assessment upon receiving financial information, including revenue, gross margin, operating income and net income produced from the various general ledger systems; however, net income by segment is the principal benchmark to measure profit or loss adopted by the CODM.

For Jinong, the net income decreased by $1,656,844 or 16.4% to $8,431,966 for three months ended September 30, 2014 from $10,088,810 for the three months ended September 30, 2013.

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For Gufeng, the net income decreased by $1,084,382 or 43.5% to $1,410,711 for three months ended September 30, 2014 from $2,495,095 for three months ended September 30, 2013.

For Yuxing, the net income increased by $258,229 or 248.8% to $362,039 for three months ended September 30, 2014 from $103,810 for three months ended September 30, 2013.

Liquidity and Capital Resources

Our principal sources of liquidity include cash from operations, borrowings from local commercial banks and net proceeds of offerings of our securities consummated in July 2009 and November/December 2009 (collectively the “Public Offerings”).

As of September 30, 2014, cash and cash equivalents were $41,116,016, an increase of $14,225,695, or 52.9%, from $26,890,321 as of June 30, 2014.

We intend to use some of the remaining net proceeds from the Public Offerings, as well as other working capital if required, to acquire new businesses, upgrade production lines and complete Yuxing’s new greenhouse facilities for agriculture products located on 88 acres of land in Hu County, 18 kilometers southeast of Xi’an city. Our liquidity needs have generally consisted of working capital necessary to finance receivables, raw material and finished goods inventory. We believe that we have sufficient cash on hand and positive projected cash flow from operations to support our business growth for the next twelve months to the extent we do not have further significant acquisitions or expansions. However, if events or circumstances occur and we do not meet our operating plan as expected, we may be required to seek additional capital and/or to reduce certain discretionary spending, which could have a material adverse effect on our ability to achieve our business objectives. Notwithstanding the foregoing, we may seek additional financing as necessary for expansion purposes and when we believe market conditions are most advantageous, which may include additional debt and/or equity financings. There can be no assurance that any additional financing will be available on acceptable terms, if at all. Any equity financing may result in dilution to existing stockholders and any debt financing may include restrictive covenants.

 The following table sets forth a summary of our cash flows for the periods indicated: 

	Three Months Ended September 30,
	2014			2013
Net cash provided by (used in) operating activities	$	17,430,724		$	(4,283,350	)
Net cash used in investing activities		(2,559,203	)		(26,418,134	)
Net cash provided by (used in) financing activities		(654,550	)		262,800
Effect of exchange rate change on cash and cash equivalents		8,724			297,697
Net increase (decrease) in cash and cash equivalents		14,225,695			(30,140,987	)
Cash and cash equivalents, beginning balance		26,890,321			75,031,489
Cash and cash equivalents, ending balance	$	41,116,016		$	44,890,502

Operating Activities

Net cash provided in operating activities was $17,430,724 for the three months ended September, 2014, an increase of $21,714,074, or 506.9% from cash used in operating activities of $4,283,350 for the three months ended September 30, 2013. The increase was mainly attributable to the decrease in accounts receivable, increase in customer deposits, increase in tax payable and an increase in depreciation and amortization, offset by an increase in inventories and advances to suppliers, during the three months ended September 30, 2014 as compared to the same period in 2013.

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Investing Activities

Net cash used in investing activities for the three months ended September 30, 2014 was $2,559,203, a decrease of $23,858,931, or 90.3% from $26,418,134 for the three months ended September 30, 2013. During the three months ended September 30, 2014, Jinong assisted its distributors in marketing to expand its competitive product advantage and market share by advancing them $4,291,918 during the three months ended September 30, 2014 compared to $25,711,964 during the three months ended September 30, 2013.

Financing Activities

Net cash used in financing activities for the three months ended September 30, 2014 was $654,550, a decrease of $917,350 or 349.1% from cash provided by financing activities of $262,800 for the three months ended September 30, 2013. During the three months ended September 30, 2014, we received $4,869,000 from the proceeds from loans and repaid loans of $5,923,950 compared to $162,800 of proceeds and $0 repayments during the three months ended September 30, 2013.  In addition, during the three months ended September 30, 2014, we sold 87,719 shares of our common stock for proceeds of $200,000 to our employees under our employee stock purchase program.  

As of September 30, 2014 and June 30, 2014, our loans payable were as follows:

	September 30, 2014		June 30, 2014
Short term loans payable:	$	22,947,120	$	24,002,720
Total	$	22,947,120	$	24,002,720

Accounts Receivable

We had accounts receivable of $75,058,824 as of September 30, 2014, as compared to $88,781,608 as of June 30, 2014, a decrease of $13,722,784 or 15.5%, which is mainly attributable to Gufeng. As of September 30, 2014, Gufeng had account receivable of $3,291,661, a decrease of $15,365,497, or 82.4%, comparing to $18,657,158 as of June 30, 2014. The decrease is mainly due to a number of large clients paid up their account payable to Gufeng during the last three months.

Allowance for doubtful accounts in account receivable for the three months ended September 30, 2014 was $227,328, a decrease of $10,266 or 4.3% from $237,594 as of June 30, 2014. And the allowance for doubtful accounts as a percentage of accounts receivable was 0.30% as of September 30, 2014 and 0.27% as of June 30, 2014. The decrease is not significant.

Deferred assets

We had deferred assets of $77,637,538 as of September 30, 2014, as compared to $83,680,425 as of June 30, 2014. We have been assisting our distributors in certain marketing efforts and developing standard stores to enhance our competitive advantages and market shares since September 30, 2013. Based on the distributor agreements, the amount owed by the distributors in certain marketing efforts and store development will be expensed over three years as long as the distributors are actively selling our products. If a distributor defaults, breaches, or terminates the agreement with us earlier than the realization of contractual terms, the unamortized portion of the amount owed by the distributor has to be refunded to us immediately. The Company’s Chairman and CEO, Mr. Li, provided credit backup to guarantee toward potential losses to the Company of any amounts due from distributors in this matter.

Inventories

We had an inventory of $100,583,401 as of September 30, 2014, as compared to $75,486,898 as of June 30, 2014, an increase of $25,096,503, or 33.2%. The increase is in the inventory level was seasonal, which is mainly due to Gufeng’s $83,062,024 inventory as of September 30, 2014. Such increase was largely attributable to the preparatory replenishment of raw material at a lower price for the expected large production of fertilizer in the incoming winter to meet the anticipated large orders, as well as the accumulation of finished fertilizer products in expecting a huge demand in the near future.

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Advances to Suppliers

We had advances to suppliers of $37,809,606 as of September 30, 2014 as compared to $32,630,865 as of June 30, 2014, representing an increase of $5,178,741 or 15.9%. To ensure our ability to deliver compound fertilizer to the distributor timely prior to the planting season, we need to have sufficient raw material in stock to stabilize the production. To build up the inventory, we typically make advance payment to the suppliers to secure the supply of raw material of basic fertilizer. Our inventory level may fluctuate from time to time, depending how fast the raw material gets consumed and replenished during the production process, and how fast the finished goods get sold. The replenishment of raw material relies on the management’s estimate of numerous factors, including but not limited to, the raw material’s future price, and spot price along with their volatility, as well as the seasonal demand and future price of finished fertilizer products. Such estimate may not be accurate, and the purchase decision of raw materials based on the estimate can cause excessive inventories in slow sales and insufficient inventories in peak times.

Accounts Payable

We had accounts payable of $2,812,361 as of September 30, 2014 as compared to $3,378,248 as of June 30, 2014, representing a decrease of $565,887, or 16.8%. The decrease was primarily due to the decrease in Yuxing’s account payable from $738,801 as of June 30, 2014 to $269,239 as of September 30, 2014.

Unearned Revenue

We had unearned revenue of $36,870,502 as of September 30, 2014 as compared to $25,700,586 as of June 30, 2014, representing an increase of $11,169,916, or 43.5%.  The increase was caused by the advancement deposits made by Gufeng’s clients, which were largely attributable to Gufeng’s $36,559,952 unearned revenue, for the following purposes: 1) reservation and storage for the coming plant season; and 2) locking up a lower price in anticipation of rising price of raw material.

Tax Payable

We had taxes payable of $3,933,954 as of September 30, 2014 as compared to $1,921,455 as of June 30, 2014, representing an increase of $2,012,499, or 104.7%. This increase was mainly due to the fact that the estimated tax payments being less than the tax liability during the three months ended September 30, 2014.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements.

Critical Accounting Policies and Estimates

Management’s discussion and analysis of its financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with United States generally accepted accounting principles. Our financial statements reflect the selection and application of accounting policies which require management to make significant estimates and judgments. See Note 2 to our consolidated financial statements, “Basis of Presentation and Summary of Significant Accounting Policies.” We believe that the following paragraphs reflect the most critical accounting policies that currently affect our financial condition and results of operations:

Use of estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the amount of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those estimates.

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Revenue recognition

Sales revenue is recognized at the date of shipment to customers when a formal arrangement exists, the price is fixed or determinable, the delivery is completed, we have no other significant obligations and collectability is reasonably assured. Payments received before all of the relevant criteria for revenue recognition are satisfied are recorded as unearned revenue.

Our revenue consists of invoiced value of goods, net of a value-added tax (VAT). No product return or sales discount allowance is made as products delivered and accepted by customers are normally not returnable and sales discounts are normally not granted after products are delivered.

Cash and cash equivalents

For statement of cash flows purposes, we consider all cash on hand and in banks, certificates of deposit and other highly-liquid investments with maturities of three months or less, when purchased, to be cash and cash equivalents.

Accounts receivable

Our policy is to maintain reserves for potential credit losses on accounts receivable. Management reviews the composition of accounts receivable and analyzes historical bad debts, customer concentrations, customer credit worthiness, current economic trends and changes in customer payment patterns to evaluate the adequacy of these reserves. Any accounts receivable of Jinong and Gufeng that is outstanding for more than 180 days will be accounted as allowance for bad debts, and any accounts receivable of Yuxing that is outstanding for more than 90 days will be accounted as allowance for bad debts.

Deferred assets

Deferred assets represent amounts the Company advanced to the distributors in their marketing and stores development to expand our competitive advantage and market shares. Based on the distributor agreements, the amount owed by the distributors in certain marketing efforts and store development will be expensed over three years as long as the distributors are actively selling our products. If a distributor defaults, breaches, or terminates the agreement with us earlier than the realization the contractual terms, the unamortized portion of the amount owed by the distributor has to be refunded to us immediately. The Company’s Chairman and CEO, Mr. Li, provided credit backup guarantee toward potential losses to the Company of any amounts due from distributors in this matter.  

Segment reporting

FASB ASC 280 requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s management organizes segments within the company for making operating decisions and assessing performance. Reportable segments are based on products and services, geography, legal structure, management structure, or any other manner in which management disaggregates a company.

As of September 30, 2014, we were organized into three main business segments: Jinong (fertilizer production), Gufeng (fertilizer production) and Yuxing (agricultural products production).

30

Item 3. Quantitative and Qualitative Disclosures About Market Risk

Disclosures About Market Risk

We may be exposed to changes in financial market conditions in the normal course of business. Market risk generally represents the risk that losses may occur as a result of movements in interest rates and equity prices. We currently do not, in the normal course of business, use financial instruments that are subject to changes in financial market conditions.

Currency Fluctuations and Foreign Currency Risk

Substantially all of our revenues and expenses are denominated in the RMB. However, we use the U.S. dollar for financial reporting purposes. Conversion of the RMB into foreign currencies is regulated by the People’s Bank of China through a unified floating exchange rate system. Although the PRC government has stated its intention to support the value of the RMB, there can be no assurance that such exchange rate will not again become volatile or that the RMB will not devalue significantly against the U.S. dollar. Exchange rate fluctuations may adversely affect the value, in U.S. dollar terms, of our net assets and income derived from our operations in the PRC.

Our reporting currency is the U.S. dollar. Except for the U.S. holding companies, all of our consolidated revenues, consolidated costs and expenses, and our assets are denominated in the RMB. As a result, we are exposed to foreign exchange risk as our revenues and results of operations may be affected by fluctuations in the exchange rate between U.S. dollars and RMB. If the RMB depreciates against the U.S. dollar, the value of our RMB revenues, earnings and assets as expressed in our U.S. dollar financial statements will decline. Assets and liabilities are translated at the exchange rates as of the balance sheet dates, revenues and expenses are translated at the average exchange rates, and shareholders’ equity is translated at historical exchange rates. Any resulting translation adjustments are not included in determining net income but are included in determining other comprehensive income, a component of shareholders’ equity. As of September 30, 2014, our accumulated other comprehensive income was $22,846,780. We have not entered into any hedging transactions in an effort to reduce our exposure to foreign exchange risk. The value of the RMB against the U.S. dollar and other currencies is affected by, among other things, changes in the PRC’s political and economic conditions. Since July 2005, the RMB has not been pegged to the U.S. dollar. Although the People’s Bank of China regularly intervenes in the foreign exchange market to prevent significant short-term fluctuations in the exchange rate, the RMB may appreciate or depreciate significantly in value against the U.S. dollar in the medium to long term. Moreover, it is possible that, in the future, PRC authorities may lift restrictions on fluctuations in the RMB exchange rate and lessen intervention in the foreign exchange market.

Interest Rate Risk

We deposit surplus funds with Chinese banks earning daily interest. We do not invest in any instruments for trading purposes. All of our outstanding debt instruments carry fixed rates of interests. The amount of short-term debt outstanding as of September 30, 2014 and June 30, 2014 was $22,947,120 and $24,002,720, respectively. We are exposed to interest rate risk primarily with respect to our short-term bank loans. Although the interest rates, which are based on the banks’ prime rates with respect to our short-term loans, are fixed for the terms of the loans, the terms are typically three to twelve months for short-term bank loans and interest rates are subject to change upon renewal. There were no material changes in interest rates for short-term bank loans renewed during the three months ended September 30, 2014. The original loan term on average is one year, and the remaining average life of the short term-loans is approximately five months.

31

Management monitors the banks’ prime rates in conjunction with our cash requirements to determine the appropriate level of debt balances relative to other sources of funds. We have not entered into any hedging transactions in an effort to reduce our exposure to interest rate risk.

Credit Risk

We have not experienced significant credit risk, as most of our customers are long-term customers with superior payment records. Our receivables are monitored regularly by our credit managers.

Inflation Risk

Inflationary factors such as increases in the cost of our products and overhead costs may adversely affect our operating results. Although we do not believe that inflation has had a material impact on our financial position or results of operations to date, a high rate of inflation in the future may have an adverse effect on our ability to maintain current levels of gross margin and selling, general and administrative expenses as a percentage of net revenues if the selling prices of our products do not increase with these increased costs.

Item 4. Controls and Procedures

(a) Evaluation of disclosure controls and procedures

At the conclusion of the period ended September 30, 2014 we carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer (“CEO”) and Chief Financial Officer (“CFO”), of the effectiveness of the design and operation of our disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”)). Based upon that evaluation, our CEO and CFO concluded that as of the end of the period covered by this Quarterly Report, our disclosure controls and procedures were effective and adequately designed to ensure that the information required to be disclosed by us in the reports we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the applicable rules and forms, and that such information was accumulated and communicated to our management, including our CEO and CFO, in a manner that allowed for timely decisions regarding required disclosure.

(b) Changes in internal controls

There were no changes in our internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13a-15 or 15d-15 that occurred during the quarter ended September 30, 2014 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II – OTHER INFORMATION

Item 5. Other Information

On September 30, 2014, the Compensation Committee (the “Committee”) of the Board of Directors of the Company approved the grant of restricted stock to certain directors, executive officers and employees of the Company under the Company’s 2009 Equity Incentive Plan, as amended (the “Plan”).

Under the Plan, effective September 30, 2014, the Committee granted (i) 240,000 shares of restricted stock to Mr. Tao Li, the Company’s Chief Executive Officer (the “CEO”); (ii) 100,000 shares of restricted stock to Mr. Ken Ren, the Company’s Chief Financial Officer (the “CFO”), (iii) 40,000 shares of restricted stock to Mr. Yizhao Zhang, 30,000 shares of restricted stock to Ms. Yiru Shi, and 20,000 shares of restricted stock to Mr. Lianfu Liu, each an independent director of the Company; and (iv) a total of 1,320,000 shares of restricted stock to certain employees (the “Stock Grants”).

The Stock Grants are subject to time-based vesting schedules, vesting in various installments until March 31, 2015 for the CFO and the three independent directors, until June 30, 2015 for the CEO and until December 31, 2016 for the employees.

32

The Stock Grants were made on the terms of the Company’s Form of Restricted Stock Grant Agreement, filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on January 11, 2010.

Item 6. Exhibits

The exhibits required by this item are set forth in the Exhibit Index attached hereto.

33

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	CHINA GREEN AGRICULTURE, INC.
	By:	/s/ Tao Li
Date: November 10, 2014	Name: Tao Li
	Title: President and Chief Executive Officer
	(principal executive officer)
Date: November 10, 2014	By:	/s/ Ken Ren
	Name: Ken Ren
	Title: Chief Financial Officer
	(principal financial officer and principal accounting officer)

34

EXHIBIT INDEX

No.	Description
31.1	Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2	Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1	Certification of Principal Executive Officer and Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS*	XBRL Instance Document
101.SCH*	XBRL Taxonomy Extension Schema Document
101.CAL*	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*	XBRL Taxonomy Extension Label Linkbase Document
101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document

* Furnished and not deemed filed or a part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, as amended, and deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise not subject to liability under these sections.

35

EX-31.1

Exhibit 31.1

CERTIFICATION PURSUANT TO

SECTION 302(a) OF THE SARBANES-OXLEY ACT OF 2002

I, Tao Li certify that:

1.          I have reviewed this Quarterly Report on Form 10-Q (this “Report”) of China Green Agriculture, Inc.;

2.          Based on my knowledge, this Report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this Report;

3.          Based on my knowledge, the financial statements, and other financial information included in this Report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this Report;

4.          The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)          Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this Report is being prepared;

(b)          Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)          Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this Report our conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this Report based on such evaluation; and

(d)          Disclosed in this Report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.          The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function):

(a)          all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)          any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 10, 2014

/s/ Tao Li

Name: Tao Li

Title: President and Chief Executive Officer

(principal executive officer)

EX-31.2

Exhibit 31.2

CERTIFICATION PURSUANT TO

SECTION 302(a) OF THE SARBANES-OXLEY ACT OF 2002

I, Ken Ren, certify that:

1.          I have reviewed this Quarterly Report on Form 10-Q (this “Report”) of China Green Agriculture, Inc.;

2.          Based on my knowledge, this Report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this Report;

3.          Based on my knowledge, the financial statements, and other financial information included in this Report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this Report;

4.          The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a)          Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this Report is being prepared;

(b)          Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c)          Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this Report our conclusions about the effectiveness of the disclosure controls and procedures as of the end of the period covered by this Report based on such evaluation; and

(d)          Disclosed in this Report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5.          The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of registrant's board of directors (or persons performing the equivalent function):

(a)          all significant deficiencies and material weaknesses in the design or operation of internal controls over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b)          any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 10, 2014

/s/ Ken Ren

Name: Ken Ren

Title: Chief Financial Officer

(principal financial officer and principal accounting officer)

EX-32.1

Exhibit 32.1

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

The undersigned hereby certifies, each in his capacity as an executive officer of China Green Agriculture, Inc. (the “Company”), for the purposes of 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of his knowledge:

1.          The Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2014 as filed with the Securities and Exchange Commission (the “Report”) fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

2.          The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: November 10, 2014

/s/ Tao Li

Name: Tao Li

Title: President and Chief Executive Officer

(principal executive officer)

/s/ Ken Ren

Name: Ken Ren

Title: Chief Financial Officer

(principal financial officer and principal accounting officer)

This certification accompanies each Report pursuant to § 906 of the Sarbanes-Oxley Act of 2002 and shall not, except to the extent required by the Sarbanes-Oxley Act of 2002, be deemed filed by the Company for purposes of §18 of the Exchange Act, as amended.

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

XML

INTANGIBLE ASSETS (Details) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 24,823,031	$ 25,225,143
Use Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets	11,658,736	11,723,976
Patented Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets	435,774	498,027
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets	6,086,686	6,350,586
Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets	32,155	42,874
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets	$ 6,609,680	$ 6,609,680

XML

STOCK OPTIONS (Details) (USD $)	3 Months Ended
	Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding Beginning	115,099
Number of Shares, Granted	0
Number of Shares, Forfeited/Cancelled	0
Number of Shares, Exercised	0
Number of Shares, Outstanding Ending	115,099
Weighted Average Exercise Price, Outstanding, Beginning	$ 14.66
Weighted Average Exercise Price, Outstanding, Ending	$ 14.66
Aggregate Intrinsic Value, Outstanding, September 30, 2014	$ 0

XML

LOAN PAYABLES (Details) (USD $)	3 Months Ended	12 Months Ended
	Sep. 30, 2014	Jun. 30, 2014
Debt Instrument [Line Items]
Short term loans	$ 22,947,120	$ 24,002,720
Agriculture Bank of China Pinggu Branch [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date Range, Start	Jan. 15, 2014	Jan. 15, 2014
Debt Instrument, Maturity Date Range, End	Jan. 14, 2015	Jan. 14, 2015
Debt Instrument, Interest Rate, Stated Percentage	6.60%	6.60%
Short term loans	1,364,160	1,364,160
China Merchants Bank [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date Range, Start	Feb. 19, 2014	Feb. 25, 2014
Debt Instrument, Maturity Date Range, End	Feb. 18, 2015	Aug. 14, 2014
Debt Instrument, Interest Rate, Stated Percentage	7.20%	6.90%
Short term loans	2,436,000	2,030,000
Bank of Beijing Pinggu Branch [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date Range, Start	Aug. 06, 2014	Aug. 16, 2013
Debt Instrument, Maturity Date Range, End	Aug. 05, 2015	Aug. 15, 2014
Debt Instrument, Interest Rate, Stated Percentage	7.20%	7.20%
Short term loans	1,624,000	1,624,000
Beijing International Trust Co Ltd [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date Range, Start	Oct. 30, 2013	Sep. 25, 2013
Debt Instrument, Maturity Date Range, End	Oct. 29, 2014	Sep. 24, 2014
Debt Instrument, Interest Rate, Stated Percentage	7.80%	7.80%
Short term loans	1,299,200	1,624,000
Beijing International Trust Co Ltd 1 [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date Range, Start	Dec. 12, 2013	Oct. 30, 2013
Debt Instrument, Maturity Date Range, End	Dec. 11, 2014	Oct. 29, 2014
Debt Instrument, Interest Rate, Stated Percentage	7.80%	7.80%
Short term loans	1,299,200	1,624,000
Beijing International Trust Co Ltd 2 [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date Range, Start	Sep. 24, 2014	Dec. 12, 2013
Debt Instrument, Maturity Date Range, End	Sep. 23, 2015	Dec. 11, 2014
Debt Instrument, Interest Rate, Stated Percentage	7.80%	7.80%
Short term loans	1,624,000	1,624,000
Bank of Tianjin Beijing Branch [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date Range, Start	Jan. 08, 2014	Jan. 08, 2014
Debt Instrument, Maturity Date Range, End	Jan. 07, 2015	Jan. 07, 2015
Debt Instrument, Interest Rate, Stated Percentage	6.60%	6.60%
Short term loans	5,684,000	5,684,000
Agriculture Bank of China Pinggu Branch 1 [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date Range, Start	Mar. 24, 2014	Mar. 24, 2014
Debt Instrument, Maturity Date Range, End	Mar. 23, 2015	Mar. 23, 2015
Debt Instrument, Interest Rate, Stated Percentage	6.60%	6.60%
Short term loans	1,299,200	1,299,200
Bank of Tianjin Beijing Branch 1 [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date Range, Start	Jan. 23, 2014	Jan. 23, 2014
Debt Instrument, Maturity Date Range, End	Jan. 22, 2015	Jan. 22, 2015
Debt Instrument, Interest Rate, Stated Percentage	6.00%	6.00%
Short term loans	3,053,120	3,053,120
China Merchants Bank 1 [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date Range, Start	Aug. 27, 2014	Feb. 19, 2014
Debt Instrument, Maturity Date Range, End	Aug. 26, 2015	Feb. 18, 2015
Debt Instrument, Interest Rate, Stated Percentage	7.80%	7.20%
Short term loans	1,624,000	2,436,000
Agriculture Bank of China Pinggu Branch 2 [Member]
Debt Instrument [Line Items]
Debt Instrument, Maturity Date Range, Start	Apr. 25, 2014	Apr. 25, 2014
Debt Instrument, Maturity Date Range, End	Apr. 24, 2015	Apr. 24, 2015
Debt Instrument, Interest Rate, Stated Percentage	6.60%	6.60%
Short term loans	$ 1,640,240	$ 1,640,240

XML

CONCENTRATIONS AND LITIGIATION (Details Textual) (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Concentration Risk [Line Items]
Accounts Payable, Trade, Current	$ 4,700,415	$ 3,269,988
Litigation Settlement, Amount	2,500,000
Supplier Concentration Risk [Member]
Concentration Risk [Line Items]
Accounts Payable, Trade, Current	$ 16,907,966	$ 6,399,605
Supplier Concentration Risk [Member] | Vendor 1 [Member] | Cost of Goods, Total [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	21.50%	16.10%
Supplier Concentration Risk [Member] | Vendor 2 [Member] | Cost of Goods, Total [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	12.50%	15.10%
Customer Concentration Risk [Member] | Sales Revenue, Goods, Net [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage		10.00%
Customer Concentration Risk [Member] | Customer 1 [Member] | Sales Revenue, Goods, Net [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	11.50%

XML

ACCRUED EXPENSES AND OTHER PAYABLES (Details) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Accrued Expenses And Other Payables [Line Items]
Payroll payable	$ 7,964	$ 7,964
Welfare payable	166,727	166,727
Accrued expenses	3,205,855	2,948,727
Other payables	904,332	1,049,783
Other levy payable	135,872	135,872
Total	$ 4,420,750	$ 4,309,073

XML

COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Sep. 30, 2014

Leases [Abstract]

Schedule of Rent Expense [Table Text Block]

Rent expenses for the next five years months ended September 30, are as follows:

Years ending September 30,
2015	$	15,898
2016		15,898
2017		15,898
2018		8,298
2019		5,765

XML

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	Sep. 30, 2014
Operating Leased Assets [Line Items]
2015	$ 15,898
2016	15,898
2017	15,898
2018	8,298
2019	$ 5,765

XML

INVENTORIES (Tables)

3 Months Ended

Sep. 30, 2014

Inventory Disclosure [Abstract]

Schedule of Inventory, Current [Table Text Block]

Inventories consist of the following:

	September 30,		June 30,
	2014		2014
Raw materials	$	52,402,159	$	24,618,225
Supplies and packing materials		639,812		492,954
Work in progress		312,410		440,935
Finished goods		47,229,020		49,934,784
Total	$	100,583,401	$	75,486,898

XML

TAXES PAYABLE (Details) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Taxes Payable [Line Items]
VAT provision	$ 52,840	$ 61,506
Income tax payable	3,171,512	1,166,683
Other levies	709,602	693,266
Total	$ 3,933,954	$ 1,921,455

XML

INTANGIBLE ASSETS (Details 3) (Customer Relationships [Member], USD $)	Sep. 30, 2014	Jun. 30, 2014
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Customer relationships	$ 10,556,000	$ 10,556,000
Less: accumulated amortization	(4,469,314)	(4,205,414)
Total land use rights, net	$ 6,086,686	$ 6,350,586

XML

INVENTORIES (Details) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Inventory [Line Items]
Raw materials	$ 52,402,159	$ 24,618,225
Supplies and packing materials	639,812	492,954
Work in progress	312,410	440,935
Finished goods	47,229,020	49,934,784
Total	$ 100,583,401	$ 75,486,898

XML

TAXES PAYABLE (Details Textual) (USD $)	1 Months Ended	3 Months Ended
	Jan. 31, 2008	Sep. 30, 2014	Sep. 30, 2013
Taxes Payable [Line Items]
New Enterprise Income Tax Rate	25.00%
Existing Enterprise Income Tax Rate	33.00%
Income Tax Rate Reconciliation Tax Holidays	50.00%
High Tech Income Tax Rate	15.00%
Income Tax Expense (Benefit)		$ 2,003,595	$ 2,661,350
Value Added Tax Rate		13.00%
Effective Income Tax Rate Reconciliation, Percent		19.80%	20.40%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		34.00%	34.00%
Jinong [Member]
Taxes Payable [Line Items]
Income Tax Expense (Benefit)		1,516,587	1,825,650
Gufeng [Member]
Taxes Payable [Line Items]
Income Tax Expense (Benefit)		$ 487,008	$ 835,700
Enterprise Income Tax [Member]
Taxes Payable [Line Items]
Effective Income Tax Rate Reconciliation, Percent		25.00%

XML

AMOUNT DUE TO RELATED PARTIES (Details Textual)	1 Months Ended		3 Months Ended						3 Months Ended
	Jul. 31, 2014 USD ($)	Jul. 31, 2014 CNY	Sep. 30, 2014 USD ($)	Sep. 30, 2014 CNY	Jun. 30, 2014 USD ($)	Sep. 30, 2014 Xian Techteam Science and Technology Industry Group Co [Member] Gufeng [Member] USD ($)	Jun. 30, 2014 Xian Techteam Science and Technology Industry Group Co [Member] Gufeng [Member] USD ($)	Sep. 30, 2014 Xian Techteam Investment Holding Group [Member] USD ($)	Sep. 30, 2014 Kingtone Information [Member] USD ($)	Sep. 30, 2014 Kingtone Information [Member] CNY	Jun. 29, 2014 Kingtone Information [Member] sqft	Jun. 29, 2014 Kingtone Information [Member] sqm	Aug. 10, 2010 Kingtone Information [Member] USD ($)	Aug. 10, 2010 Kingtone Information [Member] CNY
Operating Leased Assets [Line Items]
Due to Related Parties, Current			$ 1,958,736		$ 1,758,336	$ 1,136,800	$ 1,136,800
Total Contracted Value of Agreement								133,168					492,072	3,030,000
Lease Term									2 years	2 years
Date Of New Lease Agreement Entered									Jul. 01, 2014	Jul. 01, 2014
Impairment of Ongoing Project									196,829	1,212,000
Land Subject to Ground Leases											6,588	612
Monthly Rent Expenses	$ 4,000	24,480	$ 4,000	24,480

XML

INVENTORIES

3 Months Ended

Sep. 30, 2014

Inventory Disclosure [Abstract]

Inventory Disclosure [Text Block]

NOTE 3 – INVENTORIES

Inventories consist of the following:

	September 30,		June 30,
	2014		2014
Raw materials	$	52,402,159	$	24,618,225
Supplies and packing materials		639,812		492,954
Work in progress		312,410		440,935
Finished goods		47,229,020		49,934,784
Total	$	100,583,401	$	75,486,898

XML

INTANGIBLE ASSETS (Details 4) (Noncompete Agreements [Member], USD $)	Sep. 30, 2014	Jun. 30, 2014
Noncompete Agreements [Member]
Finite-Lived Intangible Assets [Line Items]
Non-compete agreement	$ 214,368	$ 214,368
Less: accumulated amortization	(182,213)	(171,494)
Total land use rights, net	$ 32,155	$ 42,874

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LOAN PAYABLES (Tables)

3 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

As of September 30, 2014, the short-term loan payables consist of eleven loans which mature on dates ranging from October 29, 2014 through September 23, 2015 with interest rates ranging from 6.00% to 7.80%. The loans No 4,7 and 8 below are collateralized by Tianjuyan’s land use right and building ownership right. The loan No.5 is collateralized by deposit. The loans No.3 collateralized by Jinong’s land use right and Jinong’s credit. The loan No. 6 and 10 are guaranteed by Jinong’s credit. The loans No. 1, 2 and 11 are guaranteed by a bonding company in Zhongguancun Beijing, and counter guaranteed by Jinong’s credit. The loan No.9 is guaranteed by Jinong and Tianjuyuan’s deposit.

No.	Payee	Loan period per agreement		Interest Rate			As of Sep 30, 2014
1	Beijing International Trust Co., Ltd		Oct 30, 2013- Oct 29, 2014		7.80	%	$	1,299,200
2	Beijing International Trust Co., Ltd		Dec 12, 2013 - Dec 11, 2014		7.80	%		1,299,200
3	Bank of Tianjin- Beijing Branch		Jan 8, 2014- Jan 7, 2015		6.60	%		5,684,000
4	Agriculture Bank of China-Pinggu Branch		Jan 15, 2014-Jan 14, 2015		6.60	%		1,364,160
5	Bank of Tianjin- Beijing Branch		Jan 23, 2014- Jan 22, 2015		6.00	%		3,053,120
6	China Merchants Bank- Chaoyangmen Branch		Feb 19, 2014- Feb 18, 2015		7.20	%		2,436,000
7	Agriculture Bank of China-Pinggu Branch		Mar 24, 2014- Mar 23, 2015		6.60	%		1,299,200
8	Agriculture Bank of China-Pinggu Branch		Apr 25, 2014- Apr 24, 2015		6.60	%		1,640,240
9	Bank of Beijing- Pinggu Branch		Aug 6, 2014- Aug 5, 2015		7.20	%		1,624,000
10	China Merchants Bank- Chaoyangmen Branch		Aug 27, 2014- Aug 26, 2015		7.80	%		1,624,000
11	Beijing International Trust Co., Ltd		Sep 24, 2014- Sep 23, 2015		7.80	%		1,624,000
	Total						$	22,947,120

As of June 30, 2014, the short-term loan payables consist of eleven loans which mature on dates ranging from August 14, 2014 through April 24, 2015 with interest rates ranging from 6.00% to 7.80%. The loans No. 7, 10 and 11 below are collateralized by Tianjuyan’s land use right and building ownership right. The loan No. 2 is collateralized by Gufeng and Tianjuyuan. The loan No.8 is collateralized by deposit. The loans No. 1, 3, 4, 5 and 9 are guaranteed by Jinong’s credit. The loan No. 6 is collateralized by the land use rights of Jinong. The loans No. 1 and 2 were subsequently paid off during August 2014.

No.	Payee	Loan period per agreement		Interest Rate		As of June 30, 2014
1	China Merchants Bank Chaoyang Branch		Feb 25, 2014 - Aug 14, 2014	6.90	%	$	2,030,000
2	Beijing Bank Pinggu Branch		Aug 16, 2013 - Aug 15, 2014	7.20	%		1,624,000
3	Beijing International Trust Co., Ltd		Sep 25, 2013 - Sep 24, 2014	7.80	%		1,624,000
4	Beijing International Trust Co., Ltd		Oct 30, 2013-Oct 29, 2014	7.80	%		1,624,000
5	Beijing International Trust Co., Ltd		Dec 12, 2013-Dec 11, 2014	7.80	%		1,624,000
6	Tianjin Bank Beijing Branch		Jan 8, 2014-Jan 7, 2015	6.60	%		5,684,000
7	Agriculture Bank of China-Pinggu Branch		Jan 15, 2014-Jan 14, 2015	6.60	%		1,364,160
8	Tianjin Bank Beijing Branch		Jan 23, 2014 - Jan 22,2015	6.00	%		3,053,120
9	China Merchants Bank Chaoyang Branch		Feb 19, 2014-Feb 18, 2015	7.20	%		2,436,000
10	Agriculture Bank of China-Pinggu Branch		Mar 24, 2014- Mar 23, 2015	6.60	%		1,299,200
11	Agriculture Bank of China-Pinggu Branch		Apr 25, 2014- Apr 24, 2015	6.60	%		1,640,240
	Total					$	24,002,720

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ACCRUED EXPENSES AND OTHER PAYABLES (Tables)

3 Months Ended

Sep. 30, 2014

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]

Accrued expenses and other payables consist of the following:

	September 30,		June 30,
	2014		2014
Payroll payable	$	7,964	$	7,964
Welfare payable		166,727		166,727
Accrued expenses		3,205,855		2,948,727
Other payables		904,332		1,049,783
Other levy payable		135,872		135,872
Total	$	4,420,750	$	4,309,073

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SEGMENT REPORTING (Details) (USD $)	3 Months Ended
	Sep. 30, 2014		Sep. 30, 2013		Jun. 30, 2014
Revenues from unaffiliated customers:
Revenues from unaffiliated customers Consolidated	$ 51,301,790		$ 50,303,347
Operating income :
Operating income Consolidated	10,487,081		13,333,722
Stock compensation	(1,475,164)		(1,984,494)
Net income:
Net income Consolidated	8,099,082		10,378,457
Depreciation and Amortization:
Depreciation and Amortization Consolidated	11,749,194		5,666,842
Interest expense:
Interest expense Consolidated	455,744		233,186
Capital Expenditure:
Capital Expenditure Consolidated	4,523,033		26,418,134
Identifiable assets:
Identifiable assets Consolidated	414,763,750				393,110,210
Jinong [Member]
Revenues from unaffiliated customers:
Revenues from unaffiliated customers Consolidated	34,464,165		31,762,002
Operating income :
Operating income Consolidated	9,933,764		11,861,728
Net income:
Net income Consolidated	8,431,966		10,088,808
Depreciation and Amortization:
Depreciation and Amortization Consolidated	10,568,569		4,608,681
Capital Expenditure:
Capital Expenditure Consolidated	4,254,470		25,771,964
Identifiable assets:
Identifiable assets Consolidated	204,001,609				195,331,283
Gufeng [Member]
Revenues from unaffiliated customers:
Revenues from unaffiliated customers Consolidated	15,986,074		17,756,082
Operating income :
Operating income Consolidated	2,395,978		3,677,606
Net income:
Net income Consolidated	1,410,711		2,495,095
Depreciation and Amortization:
Depreciation and Amortization Consolidated	836,514		731,201
Interest expense:
Interest expense Consolidated	455,744		233,186
Capital Expenditure:
Capital Expenditure Consolidated	9,187		4,900
Identifiable assets:
Identifiable assets Consolidated	166,678,111				153,655,110
Yuxing [Member]
Revenues from unaffiliated customers:
Revenues from unaffiliated customers Consolidated	851,551		785,263
Operating income :
Operating income Consolidated	262,993		103,646
Net income:
Net income Consolidated	362,039		103,810
Depreciation and Amortization:
Depreciation and Amortization Consolidated	344,110		326,960
Capital Expenditure:
Capital Expenditure Consolidated	259,375		641,270
Identifiable assets:
Identifiable assets Consolidated	43,896,977				44,003,970
Green New Jersey [Member] | Segment Reconciling Items [Member]
Operating income :
Operating income Consolidated	0	[1]	0	[1]
Net income:
Net income Consolidated	20	[1]	0	[1]
Identifiable assets:
Identifiable assets Consolidated	189,690	[1]			123,753	[1]
Parent Company [Member] | Segment Reconciling Items [Member]
Operating income :
Operating income Consolidated	(684,934)	[2]	(324,764)	[2]
Stock compensation	(1,420,720)	[2]	(1,984,494)	[2]
Net income:
Net income Consolidated	(2,105,654)	[2]	(2,309,256)	[2]
Identifiable assets:
Identifiable assets Consolidated	$ (2,637)	[2]			$ (3,906)	[2]

[1] Reconciling amounts refer to the unallocated assets or expenses of Green New Jersey.

[2] Reconciling amounts refer to the unallocated assets or expenses of the Parent Company.

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INTANGIBLE ASSETS (Details 5) (USD $)	Sep. 30, 2014
Finite-Lived Intangible Assets [Line Items]
Estimated amortization expenses of intangible assets, September 30, 2015	$ 1,612,251
Estimated amortization expenses of intangible assets, September 30, 2016	1,558,659
Estimated amortization expenses of intangible assets, September 30, 2017	1,258,111
Estimated amortization expenses of intangible assets, September 30, 2018	1,320,364
Estimated amortization expenses of intangible assets, September 30, 2019	$ 1,320,364

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TAXES PAYABLE (Tables)

3 Months Ended

Sep. 30, 2014

Taxes Payable [Abstract]

Schedule of Tax Payable [Table Text Block]

Taxes payable consist of the following:

	September 30,		June 30,
	2014		2014
VAT provision	$	52,840	$	61,506
Income tax payable		3,171,512		1,166,683
Other levies		709,602		693,266
Total	$	3,933,954	$	1,921,455

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

Actual income tax benefit reported in the consolidated statements of income and comprehensive income differ from the amounts computed by applying the US statutory income tax rate of 34% to income before income taxes for the three months ended September 30, 2014 and 2013, for the following reasons:

September 30, 2014
	China				United States
	15% - 25%				34%				Total
Pretax income (loss)	$	12,208,311			$	(2,105,634)			$	10,102,677
Expected income tax expense (benefit)		3,052,078	25.0	%		(715,916)	34.0	%		2,336,162
High-tech income benefits on Jinong		(591,405)	(4.8)	%		-	-			(591,405)
Losses from subsidiaries in which no benefit is recognized		(457,078)	(3.7)	%		-	-			(457,078)
Change in valuation allowance on deferred tax asset from US tax benefit		-				715,916	(34.0)	%		715,916
Actual tax expense	$	2,003,595	16.4	%	$	-	-	%	$	2,003,595	19.8	%

September 30, 2013
	China				United States
	15% - 25%				34%				Total
Pretax income (loss)	$	15,349,063			$	(2,309,256)			$	13,039,807
Expected income tax expense (benefit)		3,837,266	25.0	%		(785,147)	34.0	%		3,052,119
High-tech income benefits on Jinong		(696,553)	(4.5)	%		-	-			(696,553)
Losses from subsidiaries in which no benefit is recognized		(479,363)	(3.1)	%		-	-			(479,363)
Change in valuation allowance on deferred tax asset from US tax benefit		-				785,147	(34.0)	%		785,147
Actual tax expense	$	2,661,350	17.3	%	$	-	-	%	$	2,661,350	20.4	%

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STOCK OPTIONS (Tables)

3 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value [Table Text Block]

Options outstanding and related weighted average price and intrinsic value are as follows:

			Weighted
			Average
	Number		Exercise		Aggregate
	of Shares		Price		Intrinsic Value
Outstanding, June 30, 2014		115,099	$	14.66	$	-
Granted		-
Forfeited/Canceled		-
Exercised		-
Outstanding, September 30, 2014		115,099	$	14.66	$	-

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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Basis of Presentation and Significant Accounting Policies [Text Block]

NOTE 2 – BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Principle of consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Green New Jersey, Jinong, Gufeng, Tianjuyuan and VIE Yuxing. All significant inter-company accounts and transactions have been eliminated in consolidation.

Effective June 16, 2013, Yuxing was converted from being a wholly-owned foreign enterprise 100% owned by Jinong to a domestic enterprise 100% owned by one natural person, who is not affiliated to the Company (“Yuxing’s Owner”). Effective the same day, Yuxing’s Owner entered into a series of contractual agreements with Jinong pursuant to which Yuxing became the VIE of Jinong.

Use of estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the amount of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those results.

Deferred assets

Deferred assets represent amounts that the distributors owed to the Company in their marketing efforts and developing standard stores to expand the Company’s products’ competitiveness and market shares. The amount owed to the Company to assist its distributors will be expensed over three years as long as the distributors are actively selling the Company’s products, according to the terms in the cooperation agreement by and between the Company and its distributors. For the three months ended September 30, 2014, the Company amortized $10,331,084 of the deferred assets. If a distributor breaches, defaults, or terminates the agreement with the Company within the three year period, the outstanding unamortized portion of the amount owed will become payable to the Company immediately. The Company’s Chairman, Mr. Li, guaranteed to the Company of amounts remaining unpaid due from distributors. These deferred assets are subject to annual impairment testing. The estimated amortization expense of the deferred assets for the twelve months ending September 30, 2015, 2016, and 2017 is $43,238,911, $28,891,621 and $5,507,006, respectively.

Earnings per share

Basic earnings per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and stock awards.

The components of basic and diluted earnings per share consist of the following:

	For the Three Months Ended September 30,
	2014		2013
Net Income for Basic Earnings Per Share	$	8,099,082	$	10,378,457
Basic Weighted Average Number of Shares		32,377,250		29,973,726
Net Income per Share – Basic	$	0.25	$	0.35
Net Income for Diluted Earnings Per Share	$	8,099,082	$	10,378,457
Diluted Weighted Average Number of Shares		32,377,250		29,973,726
Net Income per Share – Diluted	$	0.25	$	0.35

Reclassification

Certain reclassifications have been made to the prior year’s consolidated financial statements to conform to the 2014 consolidated financial statement presentation. Such reclassifications did not affect total revenues, operating income or net income or cash flows as previously reported.

Recent accounting pronouncements

FASB Accounting Standards Update No. 2014-08

In April 2014, the FASB issued ASU 2014-08, "Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360)." ASU 2014-08 amends the requirements for reporting discontinued operations and requires additional disclosures about discontinued operations. Under the new guidance, only disposals representing a strategic shift in operations or that have a major effect on the Company's operations and financial results should be presented as discontinued operations. This new accounting guidance is effective for annual periods beginning after December 15, 2014. The Company is currently evaluating the impact of adopting ASU 2014-08 on the Company's results of operations or financial condition.

FASB Accounting Standards Update No. 2014-09

In May 2014, the FASB issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers” (ASU 2014-09), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). Early adoption is not permitted. The Company is currently evaluating the impact of the pending adoption of ASU 2014-09 on its consolidated financial statements and has not yet determined the method by which it will adopt the standard beginning January 1, 2017.

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future financial statements.

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SEGMENT REPORTING (Tables)

3 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

As of September 30, 2014, the Company was organized into three main business segments based on location and product: Jinong (fertilizer production), Gufeng (fertilizer production), and Yuxing (agricultural products production). Each of the three operating segments referenced above has separate and distinct general ledgers. The chief operating decision maker (“CODM”) receives financial information, including revenue, gross margin, operating income and net income produced from the various general ledger systems to make decisions about allocating resources and assessing performance; however, the principal measure of segment profitability or loss used by the CODM is net income by segment.

	Three months ended September 30,
Revenues from unaffiliated customers:	2014		2013
Jinong	$	34,464,165	$	31,762,002
Gufeng		15,986,074		17,756,082
Yuxing		851,551		785,263
Consolidated	$	51,301,790	$	50,303,347
Operating income :
Jinong	$	9,933,764	$	11,861,728
Gufeng		2,395,978		3,677,606
Yuxing		262,993		103,646
Reconciling item (1)		-		-
Reconciling item (2)		(684,934)		(324,764)
Reconciling item (2)--stock compensation		(1,420,720)		(1,984,494)
Consolidated	$	10,487,081	$	13,333,722
Net income:
Jinong	$	8,431,966	$	10,088,808
Gufeng		1,410,711		2,495,095
Yuxing		362,039		103,810
Reconciling item (1)		20		-
Reconciling item (2)		(2,105,654)		(2,309,256)
Consolidated	$	8,099,082	$	10,378,457
Depreciation and Amortization:
Jinong	$	10,568,569	$	4,608,681
Gufeng		836,514		731,201
Yuxing		344,110		326,960
Consolidated	$	11,749,194	$	5,666,842
Interest expense:
Gufeng		455,744		233,186
Consolidated	$	455,744	$	233,186
Capital Expenditure:
Jinong	$	4,254,470	$	25,771,964
Gufeng		9,187		4,900
Yuxing		259,375		641,270
Consolidated	$	4,523,033	$	26,418,134

	As of September 30,		As of June 30,
	2014		2014
Identifiable assets:
Jinong	$	204,001,609	$	195,331,283
Gufeng		166,678,111		153,655,110
Yuxing		43,896,977		44,003,970
Reconciling item (1)		189,690		123,753
Reconciling item (2)		(2,637)		(3,906)
Consolidated	$	414,763,750	$	393,110,210

(1) Reconciling amounts refer to the unallocated assets or expenses of Green New Jersey.

(2) Reconciling amounts refer to the unallocated assets or expenses of the Parent Company.

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INTANGIBLE ASSETS (Details 1) (Use Rights [Member], USD $)	Sep. 30, 2014	Jun. 30, 2014
Use Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Land use rights	$ 13,238,189	$ 13,238,189
Less: accumulated amortization	(1,579,453)	(1,514,213)
Total land use rights, net	$ 11,658,736	$ 11,723,976

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STOCKHOLDERS' EQUITY (Details Textual) (USD $)	1 Months Ended	12 Months Ended		1 Months Ended	12 Months Ended	3 Months Ended		0 Months Ended		1 Months Ended	3 Months Ended		1 Months Ended	3 Months Ended		1 Months Ended	3 Months Ended	1 Months Ended	3 Months Ended	1 Months Ended	3 Months Ended
	Jul. 28, 2014	Jun. 30, 2014	Sep. 30, 2014	Jul. 28, 2014 Common Stock [Member]	Jun. 30, 2014 Common Stock [Member]	Sep. 30, 2014 Equity Incentive Plan 2009 [Member]	Sep. 30, 2013 Equity Incentive Plan 2009 [Member]	Sep. 12, 2014 Ten Employee [Member] Common Stock [Member]	Sep. 11, 2014 Ten Employee [Member] Common Stock [Member]	Sep. 26, 2013 Mr Tao Li [Member]	Sep. 30, 2014 Mr Tao Li [Member] Equity Incentive Plan 2009 [Member]	Sep. 30, 2013 Mr Tao Li [Member] Equity Incentive Plan 2009 [Member]	Sep. 26, 2013 Mr Tao Li [Member] Employee Stock [Member]	Sep. 30, 2014 Mr Ken Ren [Member] Equity Incentive Plan 2009 [Member]	Sep. 30, 2013 Mr Ken Ren [Member] Equity Incentive Plan 2009 [Member]	Sep. 28, 2013 Mr Yizhao Zhang [Member]	Sep. 30, 2014 Mr Yizhao Zhang [Member]	Sep. 28, 2013 Ms Yiru Shi [Member]	Sep. 30, 2014 Ms Yiru Shi [Member]	Sep. 28, 2013 Mr Lianfu Liu [Member]	Sep. 30, 2014 Mr Lianfu Liu [Member]	Sep. 30, 2014 Other Employees [Member]	Sep. 30, 2013 Two Twenty Employees [Member]	Sep. 30, 2014 Legal Services [Member]
Stockholders Equity [Line Items]
Stock Issued During Period, Shares, Restricted Stock Award, Gross						1,750,000	1,750,000				240,000	480,000		100,000	200,000							1,320,000	980,000
Stock Issued During Period, Shares, Issued for Services				23,752	17,356								118,778
Stock Issued During Period, Value, Issued for Services	$ 54,444	$ 65,535																						$ 36,298.47
Equity Issuance, Per Share Amount													$ 4.42
Stock Issued During Period, Value, Employee Stock Purchase Plan								200,000		200,000
Officers' Compensation										$ 325,000
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures																40,000	40,000	30,000	30,000	20,000	20,000
Preferred Stock, Shares Authorized		20,000,000	20,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.001	$ 0.001
Stock Issued During Period, Shares, Employee Stock Purchase Plans								87,719
Share Price									$ 2.28

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CONSOLIDATED CONDENSED BALANCE SHEETS (USD $)	Sep. 30, 2014	Jun. 30, 2014
Current Assets
Cash and cash equivalents	$ 41,116,016	$ 26,890,321
Accounts receivable, net	75,058,824	88,781,608
Other receivable, net	1,977,502	3,942,542
Inventories	100,583,401	75,486,898
Prepaid expenses and other current assets	529,147	480,432
Advances to suppliers, net	37,809,606	32,630,865
Total Current Assets	257,074,496	228,212,666
Plant, Property and Equipment, Net	47,275,996	48,061,611
Other Receivables, Net of current portion	2,628,361	2,628,361
Deferred Asset, Net	77,637,538	83,680,425
Other Assets	120,342	98,018
Intangible Assets, Net	24,823,031	25,225,143
Goodwill	5,203,986	5,203,986
Total Assets	414,763,750	393,110,210
Current Liabilities
Accounts payable	2,812,361	3,378,248
Customer deposits	36,870,502	25,700,586
Accrued expenses and other payables	4,420,750	4,309,073
Amount due to related parties	1,958,736	1,758,336
Taxes payable	3,933,954	1,921,455
Short term loans	22,947,120	24,002,720
Total Current Liabilities	72,943,423	61,070,418
Commitment and Contingencies
Stockholders' Equity
Preferred Stock, $.001 par value, 20,000,000 shares authorized, zero shares issued and outstanding	0	0
Common stock, $.001 par value, 115,197,165 shares authorized, 32,474,005 and 32,362,534 shares issued and outstanding as of September 30, 2014 and June 30, 2014, respectively	32,474	32,362
Additional paid-in capital	116,280,266	114,605,214
Statutory reserve	23,435,997	22,540,394
Retained earnings	179,224,810	172,021,331
Accumulated other comprehensive income	22,846,780	22,840,491
Total Stockholders' Equity	341,820,327	332,039,792
Total Liabilities and Stockholders' Equity	$ 414,763,750	$ 393,110,210

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INTANGIBLE ASSETS (Details Textual)	1 Months Ended
	Sep. 25, 2009 Use Rights [Member] USD ($) sqm sqft acre	Sep. 25, 2009 Use Rights [Member] CNY sqm sqft	Aug. 13, 2003 Use Rights [Member] USD ($) sqm sqft acre	Aug. 13, 2003 Use Rights [Member] CNY sqm sqft	Aug. 16, 2001 Use Rights [Member] USD ($)	Aug. 16, 2001 Use Rights [Member] CNY	Jul. 02, 2010 Patented Technology [Member] USD ($)	Jul. 02, 2010 Patented Technology [Member] CNY	Jul. 02, 2010 Customer Relationships [Member] USD ($)	Jul. 02, 2010 Customer Relationships [Member] CNY	Jul. 02, 2010 Noncompete Agreements [Member] USD ($)	Jul. 02, 2010 Noncompete Agreements [Member] CNY	Jul. 02, 2010 Trademarks [Member] USD ($)	Jul. 02, 2010 Trademarks [Member] CNY
Finite-Lived Intangible Assets [Line Items]
Intangible Assets Land Use Right	88	3,800,000	11	459,898
Finite-lived Intangible Assets, Fair Value Disclosure	$ 11,885,227	73,184,895	$ 169,862	1,045,950	$ 1,183,100	7,285,099	$ 1,494,080	9,200,000	$ 10,556,000	65,000,000	$ 214,368	1,320,000	$ 6,609,680	40,700,000
Finite-Lived Intangible Assets, Remaining Amortization Period	50 years	50 years	50 years	50 years	50 years	50 years	6 years	6 years	10 years	10 years	5 years	5 years

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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Parenthetical) (Common Stock [Member])	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Common Stock [Member]
Stock Issued Shares For Repayment Of Amount Due To Related Party	118,778	118,778

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VARIABLE INTEREST ENTITIES (Details) (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Current Assets
Cash and cash equivalents	$ 41,116,016	$ 44,890,502	$ 26,890,321	$ 75,031,489
Accounts receivable, net	75,058,824		88,781,608
Inventories	100,583,401		75,486,898
Advances to suppliers, net	37,809,606		32,630,865
Total Current Assets	257,074,496		228,212,666
Plant, Property and Equipment, Net	47,275,996		48,061,611
Intangible Assets, Net	24,823,031		25,225,143
Total Assets	414,763,750		393,110,210
Current Liabilities
Accounts payable	2,812,361		3,378,248
Amount due to related parties	1,958,736		1,758,336
Total Current Liabilities	72,943,423		61,070,418
Stockholders' equity	341,820,327		332,039,792
Total Liabilities and Stockholders' Equity	414,763,750		393,110,210
Expenses	14,186,353	9,135,966
Net income (loss)	8,099,082	10,378,457
Variable Interest Entity, Primary Beneficiary [Member]
Current Assets
Cash and cash equivalents	29,067		102,777
Accounts receivable, net	180,342		61,248
Inventories	16,462,953		16,538,621
Other current assets	31,931		12,745
Advances to suppliers, net	42,060		53,168
Total Current Assets	16,746,353		16,768,559
Plant, Property and Equipment, Net	16,424,845		16,450,206
Construction In Progress	48,883		48,883
Intangible Assets, Net	10,676,896		10,736,322
Total Assets	43,896,977		44,003,970
Current Liabilities
Accounts payable	269,239		739,526
Accrued expenses and other payables	3,556		3,086
Amount due to related parties	43,142,842		43,142,280
Total Current Liabilities	43,415,637		43,884,892
Stockholders' equity	481,340		119,078
Total Liabilities and Stockholders' Equity	43,896,977		44,003,970
Revenue	851,551	785,263
Expenses	489,512	681,453
Net income (loss)	$ 362,039	$ 103,810

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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Net Income for Basic Earnings Per Share	$ 8,099,082	$ 10,378,457
Basic Weighted Average Number of Shares (in shares)	32,377,250	29,973,726
Net Income per Share - Basic (in dollars per share)	$ 0.25	$ 0.35
Net Income for Diluted Earnings Per Share (in shares)	$ 8,099,082	$ 10,378,457
Diluted Weighted Average Number of Shares (in shares)	32,377,250	29,973,726
Net Income per Share - Diluted (in dollars per share)	$ 0.25	$ 0.35

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SUBSEQUENT EVENT

3 Months Ended

Sep. 30, 2014

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE 16 – SUBSEQUENT EVENT

On October 1, 2014, the Company’s Board of Directors approved a private placement investment in the Company’s common stock from Mr. Tao Li, Chairman and CEO of the Company. Subject to the stockholders approval, the Company may issue 496,445 shares of its common stock at a purchase price of $2.25 per share, the closing price of the Common Stock that day, for an aggregate purchase price of $1,117,000.

On October 17, 2014, the Company’s Compensation Committee approved the issuance of 464,776 shares of Common Stock to its 47 employees under the Company’s Amended and Restated 2012 Employee Stock Purchase Plan for a cash contribution of a total of $1,045,757. The issuance is at the closing price $2.25 per share on October 16, 2014.

On September 26, 2014, the Board of Directors approved the issuance of 5,415 shares to its consultant for its consulting services valued at $14,000, and 17,367 shares of common stock to its counsel for the legal services valued at $36,298.47. The shares were not issued until October 15, 2014.

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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Textual) (USD $)	3 Months Ended
	Sep. 30, 2014
Amortization of Deferred Assets	$ 10,331,084
Deferred Asset, Amortization Expense, Next Twelve Months	43,238,911
Deferred Asset, Amortization Expense, Year Two	28,891,621
Deferred Asset, Amortization Expense, Year Three	$ 5,507,006
Jinong [Member]
Principle of Consolidation Converted Percentage	100.00%
One Natural Person [Member]
Principle of Consolidation Converted Percentage	100.00%

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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The components of basic and diluted earnings per share consist of the following:

	For the Three Months Ended September 30,
	2014		2013
Net Income for Basic Earnings Per Share	$	8,099,082	$	10,378,457
Basic Weighted Average Number of Shares		32,377,250		29,973,726
Net Income per Share – Basic	$	0.25	$	0.35
Net Income for Diluted Earnings Per Share	$	8,099,082	$	10,378,457
Diluted Weighted Average Number of Shares		32,377,250		29,973,726
Net Income per Share – Diluted	$	0.25	$	0.35

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ORGANIZATION AND DESCRIPTION OF BUSINESS

3 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Nature of Operations [Text Block]

NOTE 1 – ORGANIZATION AND DESCRIPTION OF BUSINESS

China Green Agriculture, Inc. (the “Company”, “Parent Company” or “Green Nevada”), through its subsidiaries, is engaged in the research, development, production, distribution and sale of humic acid-based compound fertilizer, compound fertilizer, blended fertilizer, organic compound fertilizer, slow-release fertilizers, highly-concentrated water-soluble fertilizers and mixed organic-inorganic compound fertilizer and the development, production and distribution of agricultural products.

Unless the context indicates otherwise, as used in the notes to the financial statements of the Company, the following are the references herein of all the subsidiaries of the Company (i) Green Agriculture Holding Corporation (“Green New Jersey”), a wholly-owned subsidiary of Green Nevada incorporated in the State of New Jersey; (ii) Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd. (“Jinong”), a wholly-owned subsidiary of Green New Jersey organized under the laws of the PRC; (iii) Xi’an Jintai Agriculture Technology Development Company (“Jintai”), wholly-owned subsidiary of Jinong in the PRC, (iv) Xi’an Hu County Yuxing Agriculture Technology Development Co., Ltd. (“Yuxing”), a Variable Interest Entity (“VIE”) in the PRC controlled by Jinong through contractual agreements; (v) Beijing Gufeng Chemical Products Co., Ltd., a wholly-owned subsidiary of Jinong in the PRC (“Gufeng”), and (vi) Beijing Tianjuyuan Fertilizer Co., Ltd., Gufeng’s wholly-owned subsidiary in the PRC (“Tianjuyuan”).

The Company’s corporate structure as of September 30, 2014 is set forth in the diagram below:

The unaudited consolidated financial statements were prepared by Company pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments) which are, in the opinion of management, necessary to fairly present the operating results for the respective periods. Certain information and footnote disclosures normally present in annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“US GAAP”) were omitted pursuant to such rules and regulations. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K. The results for the three months ended September 30, 2014, are not necessarily indicative of the results to be expected for the year ending June 30, 2015.

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CONSOLIDATED CONDENSED BALANCE SHEETS (Parenthetical) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares, outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	115,197,165	115,197,165
Common stock, shares issued	32,474,005	32,362,534
Common stock, shares, outstanding	32,474,005	32,362,534

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STOCK OPTIONS

3 Months Ended

Sep. 30, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE 11 – STOCK OPTIONS

There were no issuances of stock options during the three months ended September 30, 2014.

Options outstanding and related weighted average price and intrinsic value are as follows:

			Weighted
			Average
	Number		Exercise		Aggregate
	of Shares		Price		Intrinsic Value
Outstanding, June 30, 2014		115,099	$	14.66	$	-
Granted		-
Forfeited/Canceled		-
Exercised		-
Outstanding, September 30, 2014		115,099	$	14.66	$	-

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Document And Entity Information	3 Months Ended
	Sep. 30, 2014	Nov. 03, 2014
Document Information [Line Items]
Entity Registrant Name	China Green Agriculture, Inc.
Entity Central Index Key	0000857949
Current Fiscal Year End Date	--06-30
Entity Filer Category	Accelerated Filer
Trading Symbol	CGA
Entity Common Stock, Shares Outstanding		32,474,005
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2014
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015

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CONCENTRATIONS AND LITIGIATION

3 Months Ended

Sep. 30, 2014

Risks and Uncertainties [Abstract]

Concentration and Litigation [Text Block]

NOTE 12 –CONCENTRATIONS AND LITIGIATION

Market Concentration

All of the Company's revenue-generating operations are conducted in the PRC. Accordingly, the Company's business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC, and by the general state of the PRC's economy.

The Company's operations in the PRC are subject to specific considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among other things, the political, economic and legal environment and foreign currency exchange. The Company’s results may be adversely affected by, among other things, changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation.

Vendor and Customer Concentration

There were two vendors from which the Company purchased 21.5% and 12.5% of its raw materials for the three months ended September 30, 2014. Total purchase from these two venders amounted to $16,907,966 as September 30, 2014. The total amount payable to these two venders as of September 30, 2014 was $4,700,415.

There were two vendors from which the Company purchased 16.1% and 15.1% of its raw materials for the three months ended September 30, 2013. Total purchase from these two venders amounted to $6,399,605 as September 30, 2013. The total amount payable to these two venders as of September 30, 2013 was $3,269,988.

One customer was accounted for 11.5% of the Company’s sales for the three months ended September 30, 2014. There was no customer that accounted for over 10% of the total sales as of three months ended September 30, 2013.

Litigation

On October 15, 2010, a class action lawsuit was filed against the Company and certain of its current and former officers in the United States District Court for the District of Nevada (the "Nevada Federal Court") on behalf of purchasers of the Company’s common stock between November 12, 2009 and September 1, 2010. The last version of the complaint alleges that the Company and certain current and former officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Sections 11, 12(a)(2), and 15 of the Securities Act of 1933, as amended, by making material misstatements and omissions in the Company’s financial statements, securities offering documents, and related disclosures during the class period. On October 7, 2011, the defendants moved to dismiss the amended complaint and to strike portions of it. On November 2, 2012, the Court issued an order dismissing the claims for violation of sections 11, 12(a)(2) and 15 of the Securities Act of 1933 as to all defendants and dismissing two individual defendants from the complaint but allowing the claims for violations of section 10(b) and 20(a) of the Securities Exchange Act of 1934 to continue with respect to the Company and the remaining of the individual defendants. The Nevada Federal Court also denied the defendants’ motion to strike. The parties to the securities class action held mediation on March 7, 2013, which led to an agreement in principle to settle the case for a payment of $ 2.5 million by the Company’s insurers in exchange for a release of all claims against all defendants. On August 12, 2014, the Nevada Federal Court entered an order and final judgment granting final approval to the settlement and dismissing all claims in accordance with the settlement agreement. The Company’s insurers funded the full amount of the settlement of $2.5 million.

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CONSOLIDATED CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Sales
Net sales	$ 51,301,790	$ 50,303,347
Cost of goods sold
Cost of goods sold	26,628,356	27,833,659
Gross profit	24,673,434	22,469,688
Operating expenses
Selling expenses	11,066,721	5,796,190
General and administrative expenses	3,119,632	3,339,776
Total operating expenses	14,186,353	9,135,966
Income from operations	10,487,081	13,333,722
Other income (expense)
Other income (expense)	41,955	(116,383)
Interest income	29,385	55,654
Interest expense	(455,744)	(233,186)
Total other income (expense)	(384,404)	(293,915)
Income before income taxes	10,102,677	13,039,807
Provision for income taxes	2,003,595	2,661,350
Net income	8,099,082	10,378,457
Other comprehensive income
Foreign currency translation gain	6,289	694,716
Comprehensive income	8,105,371	11,073,173
Basic weighted average shares outstanding (in shares)	32,377,250	29,973,726
Basic net earnings per share (in dollars per share)	$ 0.25	$ 0.35
Diluted weighted average shares outstanding (in shares)	32,377,250	29,973,726
Diluted net earnings per share (in dollars per share)	$ 0.25	$ 0.35
Jinong [Member]
Sales
Net sales	34,464,165	31,762,002
Cost of goods sold
Cost of goods sold	13,380,623	13,969,831
Operating expenses
Income from operations	9,933,764	11,861,728
Other income (expense)
Provision for income taxes	1,516,587	1,825,650
Net income	8,431,966	10,088,808
Gufeng [Member]
Sales
Net sales	15,986,074	17,756,082
Cost of goods sold
Cost of goods sold	12,599,185	13,209,632
Operating expenses
Income from operations	2,395,978	3,677,606
Other income (expense)
Provision for income taxes	487,008	835,700
Net income	1,410,711	2,495,095
Yuxing [Member]
Sales
Net sales	851,551	785,263
Cost of goods sold
Cost of goods sold	648,548	654,196
Operating expenses
Income from operations	262,993	103,646
Other income (expense)
Net income	$ 362,039	$ 103,810

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ACCRUED EXPENSES AND OTHER PAYABLES

3 Months Ended

Sep. 30, 2014

Payables and Accruals [Abstract]

Accrued Expenses and Other Payables Disclosure [Text Block]

NOTE 6 - ACCRUED EXPENSES AND OTHER PAYABLES

Accrued expenses and other payables consist of the following:

	September 30,		June 30,
	2014		2014
Payroll payable	$	7,964	$	7,964
Welfare payable		166,727		166,727
Accrued expenses		3,205,855		2,948,727
Other payables		904,332		1,049,783
Other levy payable		135,872		135,872
Total	$	4,420,750	$	4,309,073

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INTANGIBLE ASSETS

3 Months Ended

Sep. 30, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

NOTE 5 - INTANGIBLE ASSETS

Intangible assets consist of the following:

	September 30,		June 30,
	2014		2014
Land use rights, net	$	11,658,736	$	11,723,976
Technology patent, net		435,774		498,027
Customer relationships, net		6,086,686		6,350,586
Non-compete agreement		32,155		42,874
Trademarks		6,609,680		6,609,680
Total	$	24,823,031	$	25,225,143

LAND USE RIGHT

On September 25, 2009, Yuxing was granted a land use right for approximately 88 acres (353,000 square meters or 3.8 million square feet) by the People’s Government and Land & Resources Bureau of Hu County, Xi’an, Shaanxi Province. The fair value of the related intangible asset was determined to be the respective cost of RMB73,184,895 (or $11,885,227). The intangible asset is being amortized over the grant period of 50 years using the straight line method.

On August 13, 2003, Tianjuyuan was granted a certificate of Land Use Right for a parcel of land of approximately 11 acres (42,726 square meters or 459,898 square feet) at Ping Gu District, Beijing. The purchase cost was recorded at RMB1,045,950 (or $169,862). The intangible asset is being amortized over the grant period of 50 years using the straight line method.

On August 16, 2001, Jinong received a land use right as a contribution from a shareholder, which was granted by the People’s Government and Land & Resources Bureau of Yanling District, Shaanxi Province. The fair value of the related intangible asset at the time of the contribution was determined to be RMB7,285,099 (or $1,183,100). The intangible asset is being amortized over the grant period of 50 years using the straight line method.

The Land Use Rights consist of the following:

	September 30,		June 30,
	2014		2014
Land use rights	$	13,238,189	$	13,238,189
Less: accumulated amortization		(1,579,453)		(1,514,213)
Total land use rights, net	$	11,658,736	$	11,723,976

TECHNOLOGY PATENT

On July 2, 2010, the Company acquired Gufeng and its wholly-owned subsidiary Tianjuyuan. The preliminary fair value on the acquired technology patent was estimated to be RMB 9,200,000 (or $1,494,080) and is amortized over the remaining useful life of six years using the straight line method.

The technology know-how consisted of the following:

	September 30,		June 30,
	2014		2014
Technology know-how	$	2,448,191	$	2,448,191
Less: accumulated amortization		(2,012,417)		(1,950,164)
Total technology know-how, net	$	435,774	$	498,027

CUSTOMER RELATIONSHIP

On July 2, 2010, the Company acquired Gufeng and its wholly-owned subsidiary Tianjuyuan. The preliminary fair value on the acquired customer relationships was estimated to be RMB65,000,000 (or $10,556,000) and is amortized over the remaining useful life of ten years.

	September 30,		June 30,
	2014		2014
Customer relationships	$	10,556,000	$	10,556,000
Less: accumulated amortization		(4,469,314)		(4,205,414)
Total customer relationships, net	$	6,086,686	$	6,350,586

NON-COMPETE AGREEMENT

On July 2, 2010, the Company acquired Gufeng and its wholly-owned subsidiary Tianjuyuan. The preliminary fair value on the acquired non-compete agreement was estimated to be RMB 1,320,000 (or $214,368) and is amortized over the remaining useful life of five years using the straight line method.

	September 30,		June 30,
	2014		2014
Non-compete agreement	$	214,368	$	214,368
Less: accumulated amortization		(182,213)		(171,494)
Total non-compete agreement, net	$	32,155	$	42,874

TRADEMARKS

On July 2, 2010, the Company acquired Gufeng and its wholly-owned subsidiary Tianjuyuan. The preliminary fair value on the acquired trademarks was estimated to be RMB40,700,000 (or $6,609,680) and is subject to an annual impairment test.

AMORTIZATION EXPENSE

Estimated amortization expenses of intangible assets for the next five twelve months periods ended September 30, 2014, are as follows:

AMORTIZATION TABLE
Year Ends	Expense ($)
September 30, 2015		1,612,251
September 30, 2016		1,558,659
September 30, 2017		1,258,111
September 30, 2018		1,320,364
September 30, 2019		1,320,364

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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Consolidation, Policy [Policy Text Block]

Principle of consolidation

The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries, Green New Jersey, Jinong, Gufeng, Tianjuyuan and VIE Yuxing. All significant inter-company accounts and transactions have been eliminated in consolidation.

Effective June 16, 2013, Yuxing was converted from being a wholly-owned foreign enterprise 100% owned by Jinong to a domestic enterprise 100% owned by one natural person, who is not affiliated to the Company (“Yuxing’s Owner”). Effective the same day, Yuxing’s Owner entered into a series of contractual agreements with Jinong pursuant to which Yuxing became the VIE of Jinong.

Use of Estimates, Policy [Policy Text Block]

Use of estimates

The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the amount of revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made. However, actual results could differ materially from those results.

Deferred Charges, Policy [Policy Text Block]

Deferred assets

Deferred assets represent amounts that the distributors owed to the Company in their marketing efforts and developing standard stores to expand the Company’s products’ competitiveness and market shares. The amount owed to the Company to assist its distributors will be expensed over three years as long as the distributors are actively selling the Company’s products, according to the terms in the cooperation agreement by and between the Company and its distributors. For the three months ended September 30, 2014, the Company amortized $10,331,084 of the deferred assets. If a distributor breaches, defaults, or terminates the agreement with the Company within the three year period, the outstanding unamortized portion of the amount owed will become payable to the Company immediately. The Company’s Chairman, Mr. Li, guaranteed to the Company of amounts remaining unpaid due from distributors. These deferred assets are subject to annual impairment testing. The estimated amortization expense of the deferred assets for the twelve months ending September 30, 2015, 2016, and 2017 is $43,238,911, $28,891,621 and $5,507,006, respectively.

Earnings Per Share, Policy [Policy Text Block]

Earnings per share

Basic earnings per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted earnings per share is computed based on the weighted average number of shares of common stock plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Dilutive potential common shares include outstanding stock options and stock awards.

The components of basic and diluted earnings per share consist of the following:

	For the Three Months Ended September 30,
	2014		2013
Net Income for Basic Earnings Per Share	$	8,099,082	$	10,378,457
Basic Weighted Average Number of Shares		32,377,250		29,973,726
Net Income per Share – Basic	$	0.25	$	0.35
Net Income for Diluted Earnings Per Share	$	8,099,082	$	10,378,457
Diluted Weighted Average Number of Shares		32,377,250		29,973,726
Net Income per Share – Diluted	$	0.25	$	0.35

Reclassification, Policy [Policy Text Block]

Reclassification

Certain reclassifications have been made to the prior year’s consolidated financial statements to conform to the 2014 consolidated financial statement presentation. Such reclassifications did not affect total revenues, operating income or net income or cash flows as previously reported.

New Accounting Pronouncements, Policy [Policy Text Block]

Recent accounting pronouncements

FASB Accounting Standards Update No. 2014-08

In April 2014, the FASB issued ASU 2014-08, "Presentation of Financial Statements (Topic 205) and Property, Plant and Equipment (Topic 360)." ASU 2014-08 amends the requirements for reporting discontinued operations and requires additional disclosures about discontinued operations. Under the new guidance, only disposals representing a strategic shift in operations or that have a major effect on the Company's operations and financial results should be presented as discontinued operations. This new accounting guidance is effective for annual periods beginning after December 15, 2014. The Company is currently evaluating the impact of adopting ASU 2014-08 on the Company's results of operations or financial condition.

FASB Accounting Standards Update No. 2014-09

In May 2014, the FASB issued Accounting Standards Update No. 2014-09, “Revenue from Contracts with Customers” (ASU 2014-09), which supersedes nearly all existing revenue recognition guidance under U.S. GAAP. The core principle of ASU 2014-09 is to recognize revenues when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. The standard is effective for annual periods beginning after December 15, 2016, and interim periods therein, using either of the following transition methods: (i) a full retrospective approach reflecting the application of the standard in each prior reporting period with the option to elect certain practical expedients, or (ii) a retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures). Early adoption is not permitted. The Company is currently evaluating the impact of the pending adoption of ASU 2014-09 on its consolidated financial statements and has not yet determined the method by which it will adopt the standard beginning January 1, 2017.

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future financial statements.

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SEGMENT REPORTING

3 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

NOTE 13 – SEGMENT REPORTING

As of September 30, 2014, the Company was organized into three main business segments based on location and product: Jinong (fertilizer production), Gufeng (fertilizer production), and Yuxing (agricultural products production). Each of the three operating segments referenced above has separate and distinct general ledgers. The chief operating decision maker (“CODM”) receives financial information, including revenue, gross margin, operating income and net income produced from the various general ledger systems to make decisions about allocating resources and assessing performance; however, the principal measure of segment profitability or loss used by the CODM is net income by segment.

	Three months ended September 30,
Revenues from unaffiliated customers:	2014		2013
Jinong	$	34,464,165	$	31,762,002
Gufeng		15,986,074		17,756,082
Yuxing		851,551		785,263
Consolidated	$	51,301,790	$	50,303,347
Operating income :
Jinong	$	9,933,764	$	11,861,728
Gufeng		2,395,978		3,677,606
Yuxing		262,993		103,646
Reconciling item (1)		-		-
Reconciling item (2)		(684,934)		(324,764)
Reconciling item (2)--stock compensation		(1,420,720)		(1,984,494)
Consolidated	$	10,487,081	$	13,333,722
Net income:
Jinong	$	8,431,966	$	10,088,808
Gufeng		1,410,711		2,495,095
Yuxing		362,039		103,810
Reconciling item (1)		20		-
Reconciling item (2)		(2,105,654)		(2,309,256)
Consolidated	$	8,099,082	$	10,378,457
Depreciation and Amortization:
Jinong	$	10,568,569	$	4,608,681
Gufeng		836,514		731,201
Yuxing		344,110		326,960
Consolidated	$	11,749,194	$	5,666,842
Interest expense:
Gufeng		455,744		233,186
Consolidated	$	455,744	$	233,186
Capital Expenditure:
Jinong	$	4,254,470	$	25,771,964
Gufeng		9,187		4,900
Yuxing		259,375		641,270
Consolidated	$	4,523,033	$	26,418,134

	As of September 30,		As of June 30,
	2014		2014
Identifiable assets:
Jinong	$	204,001,609	$	195,331,283
Gufeng		166,678,111		153,655,110
Yuxing		43,896,977		44,003,970
Reconciling item (1)		189,690		123,753
Reconciling item (2)		(2,637)		(3,906)
Consolidated	$	414,763,750	$	393,110,210

(1) Reconciling amounts refer to the unallocated assets or expenses of Green New Jersey.

(2) Reconciling amounts refer to the unallocated assets or expenses of the Parent Company.

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TAXES PAYABLE

3 Months Ended

Sep. 30, 2014

Taxes Payable [Abstract]

Disclosure of Taxes Payable [Text Block]

NOTE 9 – TAXES PAYABLE

Enterprise Income Tax

Effective January 1, 2008, the Enterprise Income Tax (“EIT”) law of the PRC replaced the tax laws for Domestic Enterprises (“DEs”) and Foreign Invested Enterprises (“FIEs”). The EIT rate of 25% replaced the 33% rate that was applicable to both DEs and FIEs. The two year tax exemption and three year 50% tax reduction tax holiday for production-oriented FIEs was eliminated. Since January 1, 2008, Jinong became subject to income tax in China at a rate of 15% as a high-tech company, as a result of the expiration of its tax exemption on December 31, 2007. Accordingly, it made provision for income taxes for the three months ended September 30, 2014 and 2013 of $1,516,587 and $1,825,650, respectively, which is mainly due to the operating income from Jinong. Gufeng is subject to 25% EIT rate and thus it made provision for income taxes of $487,008 and $835,700 for the three months ended September 30, 2014 and 2013, respectively.

Value-Added Tax

All of the Company’s fertilizer products that are produced and sold in the PRC were subject to a Chinese Value-Added Tax (VAT) of 13% of the gross sales price. On April 29, 2008, the PRC State of Administration of Taxation (SAT) released Notice #56, “Exemption of VAT for Organic Fertilizer Products”, which allows certain fertilizer products to be exempt from VAT beginning June 1, 2008. The Company submitted the application for exemption in May 2009, which was granted effective September 1, 2009, continuing through December 31, 2015. The VAT exemption applies to all but a nominal amount of agricultural products sold by Jinong.

Income Taxes and Related Payables

Taxes payable consist of the following:

	September 30,		June 30,
	2014		2014
VAT provision	$	52,840	$	61,506
Income tax payable		3,171,512		1,166,683
Other levies		709,602		693,266
Total	$	3,933,954	$	1,921,455

Tax Rate Reconciliation

Our effective tax rates were approximately 19.8% and 20.4% for the three months ended September 30, 2014 and 2013, respectively. Substantially all of the Company’s income before income taxes and related tax expense are from PRC sources. Actual income tax benefit reported in the consolidated statements of income and comprehensive income differ from the amounts computed by applying the US statutory income tax rate of 34% to income before income taxes for the three months ended September 30, 2014 and 2013, for the following reasons:

September 30, 2014
	China				United States
	15% - 25%				34%				Total
Pretax income (loss)	$	12,208,311			$	(2,105,634)			$	10,102,677
Expected income tax expense (benefit)		3,052,078	25.0	%		(715,916)	34.0	%		2,336,162
High-tech income benefits on Jinong		(591,405)	(4.8)	%		-	-			(591,405)
Losses from subsidiaries in which no benefit is recognized		(457,078)	(3.7)	%		-	-			(457,078)
Change in valuation allowance on deferred tax asset from US tax benefit		-				715,916	(34.0)	%		715,916
Actual tax expense	$	2,003,595	16.4	%	$	-	-	%	$	2,003,595	19.8	%

September 30, 2013
	China				United States
	15% - 25%				34%				Total
Pretax income (loss)	$	15,349,063			$	(2,309,256)			$	13,039,807
Expected income tax expense (benefit)		3,837,266	25.0	%		(785,147)	34.0	%		3,052,119
High-tech income benefits on Jinong		(696,553)	(4.5)	%		-	-			(696,553)
Losses from subsidiaries in which no benefit is recognized		(479,363)	(3.1)	%		-	-			(479,363)
Change in valuation allowance on deferred tax asset from US tax benefit		-				785,147	(34.0)	%		785,147
Actual tax expense	$	2,661,350	17.3	%	$	-	-	%	$	2,661,350	20.4	%

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SUBSEQUENT EVENT (Details Textual) (USD $)	1 Months Ended	12 Months Ended	0 Months Ended		1 Months Ended	12 Months Ended	0 Months Ended
	Jul. 28, 2014	Jun. 30, 2014	Sep. 26, 2014 Consulting Services [Member]	Sep. 26, 2014 Legal Services [Member]	Jul. 28, 2014 Common Stock [Member]	Jun. 30, 2014 Common Stock [Member]	Oct. 01, 2014 Subsequent Event [Member] Private Placement [Member] Common Stock [Member] Chief Executive Officer [Member]	Oct. 17, 2014 Subsequent Event [Member] 47 Employee [Member] Common Stock [Member]
Subsequent Event [Line Items]
Sale of Stock, Number of Shares Issued in Transaction							496,445
Sale of Stock, Price Per Share							$ 2.25
Sale of Stock, Consideration Received on Transaction							$ 1,117,000
Stock Issued During Period, Shares, Employee Stock Purchase Plans								464,776
Stock Issued During Period, Value, Employee Stock Purchase Plan								1,045,757
Share Price								$ 2.25
Stock Issued During Period, Shares, Issued For Services			5,415	17,367	23,752	17,356
Stock Issued During Period, Value, Issued For Services	$ 54,444	$ 65,535	$ 14,000	$ 36,298.47

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AMOUNT DUE TO RELATED PARTIES

3 Months Ended

Sep. 30, 2014

Related Party Transactions [Abstract]

Related Party Transactions Disclosure [Text Block]

NOTE 7 - AMOUNT DUE TO RELATED PARTIES

As of September 30, 2014 and June 30, 2014, the amount due to related parties was $1,958,736 and $1,758,336, respectively. At September 30, 2014 and June 30, 2014, $1,136,800 and $1,136,800, respectively were amounts that Gufeng borrowed from a related party, Xi’an Techteam Science & Technology Industry (Group) Co. Ltd., a company controlled by Mr. Tao Li, Chairman and CEO of the Company, represent unsecured, non-interest bearing loans that are due on demand. These loans are not subject to written agreements.

On November 1, 2013, Yuxing entered into an agreement with Xi'an Techteam Investment Holding Group (“Techteam Investment”), a holding company owned and controlled by Mr. Tao Li, Chairman and CEO of the Company, to delegate Techteam Investment to procure certain inventories from the market from November 1, 2013 to June 30, 2014 (the “Agreement Period”). During the Agreement Period, Techteam Investment advances procurement payment to vendors, and Yuxing repays the outstanding procurement amount to Techteam Investment periodically. Techteam Investment receives no commission or compensation in this process. The total amount under this Agreement is $133,168.

On August 10, 2010, Yuxing, entered into an agreement with Xi’an Kingtone Information Technology Co., Ltd. (“Kingtone Information”), the contractually-controlled operating subsidiary of Kingtone Wirelessinfo Solution Holding Ltd (“Kingtone”), whose Chairman is Mr. Tao Li, the Company’s Chairman and CEO. Pursuant to the agreement, Kingtone Information was responsible for developing certain electronic control systems for Yuxing. The total contracted value of this agreement, including value-added taxes and other taxes, is RMB3,030,000, or approximately $492,072. The project is currently ongoing, and RMB1,212,000 or $196,829 had been paid by Yuxing to Kingtone as of September 30, 2014.

On June 29, 2014, Jinong signed an office lease with Kingtone Information. Pursuant to the lease, Jinong rented 612 square meters (approximately 6,588 square feet) of office space from Kingtone Information. The lease provided for a two-year term effective as of July 1, 2014 with monthly rent of RMB24,480 (approximately $4,000).

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LOAN PAYABLES

3 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

Short-term Debt [Text Block]

NOTE 8- LOAN PAYABLES

As of September 30, 2014, the short-term loan payables consist of eleven loans which mature on dates ranging from October 29, 2014 through September 23, 2015 with interest rates ranging from 6.00% to 7.80%. The loans No 4,7 and 8 below are collateralized by Tianjuyan’s land use right and building ownership right. The loan No.5 is collateralized by deposit. The loans No.3 collateralized by Jinong’s land use right and Jinong’s credit. The loan No. 6 and 10 are guaranteed by Jinong’s credit. The loans No. 1, 2 and 11 are guaranteed by a bonding company in Zhongguancun Beijing, and counter guaranteed by Jinong’s credit. The loan No.9 is guaranteed by Jinong and Tianjuyuan’s deposit.

No.	Payee	Loan period per agreement		Interest Rate			As of Sep 30, 2014
1	Beijing International Trust Co., Ltd		Oct 30, 2013- Oct 29, 2014		7.80	%	$	1,299,200
2	Beijing International Trust Co., Ltd		Dec 12, 2013 - Dec 11, 2014		7.80	%		1,299,200
3	Bank of Tianjin- Beijing Branch		Jan 8, 2014- Jan 7, 2015		6.60	%		5,684,000
4	Agriculture Bank of China-Pinggu Branch		Jan 15, 2014-Jan 14, 2015		6.60	%		1,364,160
5	Bank of Tianjin- Beijing Branch		Jan 23, 2014- Jan 22, 2015		6.00	%		3,053,120
6	China Merchants Bank- Chaoyangmen Branch		Feb 19, 2014- Feb 18, 2015		7.20	%		2,436,000
7	Agriculture Bank of China-Pinggu Branch		Mar 24, 2014- Mar 23, 2015		6.60	%		1,299,200
8	Agriculture Bank of China-Pinggu Branch		Apr 25, 2014- Apr 24, 2015		6.60	%		1,640,240
9	Bank of Beijing- Pinggu Branch		Aug 6, 2014- Aug 5, 2015		7.20	%		1,624,000
10	China Merchants Bank- Chaoyangmen Branch		Aug 27, 2014- Aug 26, 2015		7.80	%		1,624,000
11	Beijing International Trust Co., Ltd		Sep 24, 2014- Sep 23, 2015		7.80	%		1,624,000
	Total						$	22,947,120

As of June 30, 2014, the short-term loan payables consist of eleven loans which mature on dates ranging from August 14, 2014 through April 24, 2015 with interest rates ranging from 6.00% to 7.80%. The loans No. 7, 10 and 11 below are collateralized by Tianjuyan’s land use right and building ownership right. The loan No. 2 is collateralized by Gufeng and Tianjuyuan. The loan No.8 is collateralized by deposit. The loans No. 1, 3, 4, 5 and 9 are guaranteed by Jinong’s credit. The loan No. 6 is collateralized by the land use rights of Jinong. The loans No. 1 and 2 were subsequently paid off during August 2014.

No.	Payee	Loan period per agreement		Interest Rate		As of June 30, 2014
1	China Merchants Bank Chaoyang Branch		Feb 25, 2014 - Aug 14, 2014	6.90	%	$	2,030,000
2	Beijing Bank Pinggu Branch		Aug 16, 2013 - Aug 15, 2014	7.20	%		1,624,000
3	Beijing International Trust Co., Ltd		Sep 25, 2013 - Sep 24, 2014	7.80	%		1,624,000
4	Beijing International Trust Co., Ltd		Oct 30, 2013-Oct 29, 2014	7.80	%		1,624,000
5	Beijing International Trust Co., Ltd		Dec 12, 2013-Dec 11, 2014	7.80	%		1,624,000
6	Tianjin Bank Beijing Branch		Jan 8, 2014-Jan 7, 2015	6.60	%		5,684,000
7	Agriculture Bank of China-Pinggu Branch		Jan 15, 2014-Jan 14, 2015	6.60	%		1,364,160
8	Tianjin Bank Beijing Branch		Jan 23, 2014 - Jan 22,2015	6.00	%		3,053,120
9	China Merchants Bank Chaoyang Branch		Feb 19, 2014-Feb 18, 2015	7.20	%		2,436,000
10	Agriculture Bank of China-Pinggu Branch		Mar 24, 2014- Mar 23, 2015	6.60	%		1,299,200
11	Agriculture Bank of China-Pinggu Branch		Apr 25, 2014- Apr 24, 2015	6.60	%		1,640,240
	Total					$	24,002,720

The interest expense from short-term loans were $455,744 and $233,186 for the three months ended September 30, 2014 and 2013, respectively

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STOCKHOLDERS' EQUITY

3 Months Ended

Sep. 30, 2014

Stockholders Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

NOTE 10 – STOCKHOLDERS’ EQUITY

Common Stock

On September 26, 2013, the Company issued 118,778 shares of common stock at the market price of $4.42 per share to Mr. Tao Li as the repayment for $200,000 he previously advanced to the Company and $325,000 for the unpaid compensation.

On September 28, 2013, the Company granted an aggregate of 1,750,000 shares of restricted stock under the 2009 Plan to certain executive officers, directors and employees. among which (i) 480,000 shares of restricted stock to Mr. Tao Li, the CEO; (ii) 200,000 shares of restricted stock to Mr. Ken Ren, the CFO, (iii) 40,000 shares of restricted stock to Mr. Yizhao Zhang, 30,000 shares of restricted stock to Ms. Yiru Shi, and 20,000 shares of restricted stock to Mr. Lianfu Liu, each an independent director of the Company; and (iv) 980,000 shares of restricted stock to 220 employees. The stock grants are subject to time-based vesting schedules, vesting in various installments until March 31, 2014 for the CFO and the three independent directors, until March 31, 2015 for the CEO and until December 31, 2015 for the employees.

During the year ended June 30, 2014, the Company issued 17,356 shares of common stock for consulting services valued at $65,535. The shares were valued at the market price on the date of issuance.

Effective July 28, 2014, the Company issued 23,752 shares of common stock for professional fees valued at $54,444. The shares were valued at the market price on the date of issuance.

On September 30, 2014, the Company granted an aggregate of 1,750,000 shares of restricted stock under the 2009 Plan to certain executive officers, directors and employees. among which (i) 240,000 shares of restricted stock to Mr. Tao Li, the CEO; (ii) 100,000 shares of restricted stock to Mr. Ken Ren, the CFO, (iii) 40,000 shares of restricted stock to Mr. Yizhao Zhang, 30,000 shares of restricted stock to Ms. Yiru Shi, and 20,000 shares of restricted stock to Mr. Lianfu Liu, each an independent director of the Company; and (iv) 1,320,000 shares of restricted stock to key employees. The stock grants are subject to time-based vesting schedules, vesting in various installments until March 31, 2015 for the CFO and the three independent directors, until June 30, 2015 for the CEO and until December 31, 2016 for the employees.

On September 12, 2014, the Company’ Compensation Committee, approved the issuance of 87,719 shares of common stock to its ten employees under the Company’s Amended and Restated 2012 Employee Stock Purchase Plan for a cash contribution of a total of $200,000. The issuance is at the closing price $2.28 per share on September 11, 2014.

Preferred Stock

Under the Company’s Articles of Incorporation, the Board has the authority, without further action by stockholders, to designate up to 20,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges, qualifications and restrictions granted to or imposed upon the preferred stock, including dividend rights, conversion rights, voting rights, rights and terms of redemption, liquidation preference and sinking fund terms, any or all of which may be greater than the rights of the common stock. If the Company sells preferred stock under its registration statement on Form S-3, it will fix the rights, preferences, privileges, qualifications and restrictions of the preferred stock of each series in the certificate of designation relating to that series and will file the certificate of designation that describes the terms of the series of preferred stock the Company offers before the issuance of the related series of preferred stock.

As of September 30, 2014, the Company has 20,000,000 shares of preferred stock authorized, with a par value of $.001 per share, of which no shares are issued or outstanding.

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VARIABLE INTEREST ENTITIES (Tables)

3 Months Ended

Sep. 30, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Variable Interest Entities [Table Text Block]

The following financial statement amounts and balances of the VIE were included in the accompanying consolidated financial statements as of September 30, 2014 and June 30, 2014:

	September 30,		June 30,
	2014		2014
ASSETS
Current Assets
Cash and cash equivalents	$	29,067	$	102,777
Accounts receivable, net		180,342		61,248
Inventories		16,462,953		16,538,621
Other current assets		31,931		12,745
Advances to suppliers		42,060		53,168
Total Current Assets		16,746,353		16,768,559
Plant, Property and Equipment, Net		16,424,845		16,450,206
Construction In Progress		48,883		48,883
Intangible Assets, Net		10,676,896		10,736,322
Total Assets	$	43,896,977	$	44,003,970
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable	$	269,239	$	739,526
Accrued expenses and other payables		3,556		3,086
Amount due to related parties		43,142,842		43,142,280
Total Current Liabilities		43,415,637		43,884,892
Stockholders' equity		481,340		119,078
Total Liabilities and Stockholders' Equity	$	43,896,977	$	44,003,970

	Three months ended September 30,
	2014		2013
Revenue	$	851,551	$	785,263
Expenses		489,512		681,453
Net income (loss)	$	362,039	$	103,810

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TAXES PAYABLE (Details 1) (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Taxes Payable [Line Items]
Pretax income (loss)	$ 10,102,677	$ 13,039,807
Expected income tax expense (benefit)	2,336,162	3,052,119
High-tech income benefits on Jinong	(591,405)	(696,553)
Losses from subsidiaries in which no benefit is recognized	(457,078)	(479,363)
Change in valuation allowance on deferred tax asset from US tax benefit	715,916	785,147
Actual tax expense	2,003,595	2,661,350
Actual tax expense, Percentage	19.80%	20.40%
CHINA
Taxes Payable [Line Items]
Pretax income (loss)	12,208,311	15,349,063
Expected income tax expense (benefit)	3,052,078	3,837,266
High-tech income benefits on Jinong	(591,405)	(696,553)
Losses from subsidiaries in which no benefit is recognized	(457,078)	(479,363)
Change in valuation allowance on deferred tax asset from US tax benefit	0	0
Actual tax expense	2,003,595	2,661,350
Expected income tax expense (benefit), Percentage	25.00%	25.00%
High-tech income benefits on Jinong, Percentage	(4.80%)	(4.50%)
Losses from subsidiaries in which no benefit is recognized, Percentage	(3.70%)	(3.10%)
Actual tax expense, Percentage	16.40%	17.30%
CHINA | Minimum [Member]
Taxes Payable [Line Items]
Actual tax expense, Percentage	15.00%	15.00%
CHINA | Maximum [Member]
Taxes Payable [Line Items]
Actual tax expense, Percentage	25.00%	25.00%
UNITED STATES
Taxes Payable [Line Items]
Pretax income (loss)	(2,105,634)	(2,309,256)
Expected income tax expense (benefit)	(715,916)	(785,147)
High-tech income benefits on Jinong	0	0
Losses from subsidiaries in which no benefit is recognized	0	0
Change in valuation allowance on deferred tax asset from US tax benefit	715,916	785,147
Actual tax expense	$ 0	$ 0
Expected income tax expense (benefit), Percentage	34.00%	34.00%
High-tech income benefits on Jinong, Percentage	0.00%	0.00%
Losses from subsidiaries in which no benefit is recognized, Percentage	0.00%	0.00%
Change in valuation allowance on deferred tax asset from US tax benefit, Percentage	(34.00%)	(34.00%)
Actual tax expense, Percentage	0.00%	34.00%

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VARIABLE INTEREST ENTITIES

3 Months Ended

Sep. 30, 2014

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Variable Interest Entity Disclosure [Text Block]

NOTE 15 VARIABLE INTEREST ENTITIES

Green Nevada through one of its subsidiaries, Jinong, entered into a series of agreements (the “VIE Agreements”) with Yuxing for it to qualify as a VIE, effective June 16, 2013. The VIE Agreements are as follows:

Entrusted Management Agreement

Pursuant to the terms of a certain Entrusted Management Agreement dated June 16, 2013 among Yuxing, Jinong and the shareholder of Yuxing (the “Entrusted Management Agreement”), Yuxing and its shareholder agreed to entrust the operations and management of its business to Jinong. According to the Entrusted Management Agreement, Jinong possesses the full and exclusive right to manage Yuxing’s operations, assets and personnel, has the right to control all of Yuxing's cash flows through an entrusted bank account, is entitled to Yuxing's net profits as a management fee, is obligated to pay all of Yuxing’s payables and loan payments, and bears all losses of Yuxing. The Entrusted Management Agreement will remain in effect until (i) the parties mutually agree to terminate the agreement; (ii) the dissolution of Yuxing or (iii) Jinong acquires all of the assets or equity of Yuxing (as more fully described below under “Exclusive Option Agreement”).

Exclusive Product Supply Agreement

Pursuant to the terms of a certain Exclusive Product Supply Agreement dated June 16, 2013 between Yuxing and Jinong (“the Exclusive Product Supply Agreement”), Jinong is the exclusive product provider to Yuxing. Yuxing agreed to pay Jinong all fees payable for products supply prior to making any payments under the Entrusted Management Agreement. Any payment from Yuxing to Jinong must comply with applicable Chinese laws. The Exclusive Product Supply Agreement shall remain in effect until (i) the parties mutually agree to terminate the agreement; (ii) the dissolution of Yuxing or (iii) Jinong acquires Yuxing (as more fully described below under “Exclusive Option Agreement”).

Shareholder’s Voting Proxy Agreement

Pursuant to the terms of a certain Shareholder’s Voting Proxy Agreement dated June 16, 2013 among Jinong and the shareholder of Yuxing (the “Shareholder’s Voting Proxy Agreement”), the shareholder of Yuxing irrevocably appointed Jinong as their proxy to exercise on such shareholder’s behalf all of her voting rights as shareholder pursuant to PRC law and the Articles of Association of Yuxing, including the appointment and election of directors of Yuxing. Jinong agreed that it shall maintain a board of directors the composition of which will be the members of the Board of Green Nevada, except those directors that are employed solely for the purpose of satisfying listing or financing requirements of Green Nevada, if any. The Shareholder’s Voting Proxy Agreement will remain in effect until Jinong acquires all of the assets or equity of Yuxing.

Exclusive Option Agreement

Pursuant to the terms of a certain Exclusive Option Agreement dated June 16, 2013 among Jinong, Yuxing and the shareholder of Yuxing (the “Exclusive Option Agreement”), the shareholder of Yuxing granted Jinong an irrevocable and exclusive purchase option (the “Option”) to acquire Yuxing’s equity interests and/or remaining assets, but only to the extent that the acquisition does not violate limitations imposed by PRC law on such transactions. The Option is exercisable at any time at Jinong’s discretion so long as such exercise and subsequent acquisition of Yuxing does not violate PRC law. The consideration for the exercise of the Option is to be determined by the parties and memorialized in the future by definitive agreements setting forth the kind and value of such consideration. To the extent Yuxing shareholder receive any of such consideration, the Option requires them to transfer (and not retain) the same to Yuxing or Jinong. The Exclusive Option Agreement may be terminated by mutual agreement or by 30 days written notice by Jinong.

Equity Pledge Agreement

Pursuant to the terms of a certain Equity Pledge Agreement dated June 16, 2013 among Jinong and the shareholder of Yuxing (the “Pledge Agreement”), the shareholder of Yuxing pledged all of her equity interests in Yuxing, including the proceeds thereof, to guarantee all of Jinong's rights and benefits under the Entrusted Management Agreement, the Exclusive Product Supply Agreement, the Shareholder’ Voting Proxy Agreement and the Exclusive Option Agreement. Prior to termination of the Pledge Agreement, the pledged equity interests cannot be transferred without Jinong's prior written consent. The Pledge Agreement may be terminated only upon the written agreement of the parties.

As a result of these contractual arrangements, Green Nevada is able to exercise control over Yuxing and was entitled to substantially all of the economic benefits of Yuxing through its subsidiary, Jinong. Therefore, Green Nevada consolidates Yuxing in accordance with ASC 810-10 (“Consolidation of Variable Interest Entities”) since the date of the VIE Agreements.

The following financial statement amounts and balances of the VIE were included in the accompanying consolidated financial statements as of September 30, 2014 and June 30, 2014:

	September 30,		June 30,
	2014		2014
ASSETS
Current Assets
Cash and cash equivalents	$	29,067	$	102,777
Accounts receivable, net		180,342		61,248
Inventories		16,462,953		16,538,621
Other current assets		31,931		12,745
Advances to suppliers		42,060		53,168
Total Current Assets		16,746,353		16,768,559
Plant, Property and Equipment, Net		16,424,845		16,450,206
Construction In Progress		48,883		48,883
Intangible Assets, Net		10,676,896		10,736,322
Total Assets	$	43,896,977	$	44,003,970
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Accounts payable	$	269,239	$	739,526
Accrued expenses and other payables		3,556		3,086
Amount due to related parties		43,142,842		43,142,280
Total Current Liabilities		43,415,637		43,884,892
Stockholders' equity		481,340		119,078
Total Liabilities and Stockholders' Equity	$	43,896,977	$	44,003,970

	Three months ended September 30,
	2014		2013
Revenue	$	851,551	$	785,263
Expenses		489,512		681,453
Net income (loss)	$	362,039	$	103,810

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PROPERTY, PLANT AND EQUIPMENT (Tables)

3 Months Ended

Sep. 30, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

Property, plant and equipment consist of the following:

	September 30,		June 30,
	2014		2014
Building and improvements	$	29,930,241	$	29,930,240
Auto		732,684		732,684
Machinery and equipment		36,424,759		36,193,501
Agriculture assets		826,549		826,549
Total property, plant and equipment		67,914,233		67,682,974
Less: accumulated depreciation		(20,638,237)		(19,621,363)
Total	$	47,275,996	$	48,061,611

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LOAN PAYABLES (Details Textual) (USD $)	3 Months Ended		12 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Jun. 30, 2014
Debt Instrument [Line Items]
Debt Instrument, Maturity Date, Description	the short-term loan payables consist of eleven loans which mature on dates ranging from October 29, 2014 through September 23, 2015		the short-term loan payables consist of eleven loans which mature on dates ranging from August 14, 2014 through April 24, 2015
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	6.00%		6.00%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	7.80%		7.80%
Interest Expense, Short-term Borrowings	$ 455,744	$ 233,186

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INTANGIBLE ASSETS (Details 2) (Patented Technology [Member], USD $)	Sep. 30, 2014	Jun. 30, 2014
Patented Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Technology know-how	$ 2,448,191	$ 2,448,191
Less: accumulated amortization	(2,012,417)	(1,950,164)
Total land use rights, net	$ 435,774	$ 498,027

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CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Cash flows from operating activities
Net income	$ 8,099,082	$ 10,378,457
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Issuance of common stock and stock options for compensation	1,475,164	1,984,494
Depreciation and amortization	11,749,194	5,666,842
Changes in operating assets
Accounts receivable	13,714,334	(9,882,111)
Other current assets	(48,687)	8,843
Inventories	(25,081,049)	(15,498,332)
Advances to suppliers	(5,175,552)	1,174,510
Other assets	(22,310)	20,620
Changes in operating liabilities
Accounts payable	(565,539)	508,712
Customer deposits	11,163,038	2,680,539
Tax payables	2,011,259	(1,875,760)
Accrued expenses and other payables	111,790	549,836
Amount due to related parties	0	0
Net cash provided by (used in) operating activities	17,430,724	(4,283,350)
Cash flows from investing activities
Purchase of plant, property, and equipment	(231,115)	(646,170)
Proceeds from other receivables	1,963,830	0
Deferred assets	(4,291,918)	(25,771,964)
Net cash used in investing activities	(2,559,203)	(26,418,134)
Cash flows from financing activities
Proceeds from the sale of common stock	200,000	0
Proceeds from loans	0	162,800
Repayment of loans	(1,054,950)	0
Advance from related party	200,400	100,000
Net cash provided by (used in) financing activities	(654,550)	262,800
Effect of exchange rate change on cash and cash equivalents	8,724	297,697
Net increase (decrease) in cash and cash equivalents	14,225,695	(30,140,987)
Cash and cash equivalents, beginning balance	26,890,321	75,031,489
Cash and cash equivalents, ending balance	41,116,016	44,890,502
Supplement disclosure of cash flow information
Interest expense paid	455,744	348,675
Income taxes paid	0	4,558,400
Supplemental Disclosure of Non-Cash Financing Activities:
Issuance 118,778 shares of common stock for repayment of amount due to related party	$ 0	$ 525,000

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PROPERTY, PLANT AND EQUIPMENT

3 Months Ended

Sep. 30, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 4 - PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consist of the following:

	September 30,		June 30,
	2014		2014
Building and improvements	$	29,930,241	$	29,930,240
Auto		732,684		732,684
Machinery and equipment		36,424,759		36,193,501
Agriculture assets		826,549		826,549
Total property, plant and equipment		67,914,233		67,682,974
Less: accumulated depreciation		(20,638,237)		(19,621,363)
Total	$	47,275,996	$	48,061,611

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COMMITMENTS AND CONTINGENCIES (Details Textual)	1 Months Ended		3 Months Ended			1 Months Ended
	Jul. 31, 2014 USD ($)	Jul. 31, 2014 CNY	Sep. 30, 2014 USD ($)	Sep. 30, 2014 CNY	Sep. 30, 2013 USD ($)	Jan. 31, 2008 Xian Jinong Hi Tech Agriculture Demonstration Zone [Member] USD ($)	Jan. 31, 2008 Xian Jinong Hi Tech Agriculture Demonstration Zone [Member] CNY	Feb. 29, 2004 Village Committee of Dong Gao Village and Zhen Nan Zhang Dai Village [Member] USD ($)	Feb. 29, 2004 Village Committee of Dong Gao Village and Zhen Nan Zhang Dai Village [Member] CNY	Jun. 29, 2014 Kingtone Information [Member] sqm	Jun. 29, 2014 Kingtone Information [Member] sqft
Operating Leased Assets [Line Items]
Operating Leases, Rent Expense			$ 3,975		$ 15,882	$ 844	5,200	$ 480	2,958
Land Subject to Ground Leases										612	6,588
Monthly Rent Expenses	$ 4,000	24,480	$ 4,000	24,480

XML

INTANGIBLE ASSETS (Tables)

3 Months Ended

Sep. 30, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Impaired Intangible Assets [Table Text Block]

Intangible assets consist of the following:

	September 30,		June 30,
	2014		2014
Land use rights, net	$	11,658,736	$	11,723,976
Technology patent, net		435,774		498,027
Customer relationships, net		6,086,686		6,350,586
Non-compete agreement		32,155		42,874
Trademarks		6,609,680		6,609,680
Total	$	24,823,031	$	25,225,143

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Estimated amortization expenses of intangible assets for the next five twelve months periods ended September 30, 2014, are as follows:

AMORTIZATION TABLE
Year Ends	Expense ($)
September 30, 2015		1,612,251
September 30, 2016		1,558,659
September 30, 2017		1,258,111
September 30, 2018		1,320,364
September 30, 2019		1,320,364

Use Rights [Member]

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Impaired Intangible Assets [Table Text Block]

The Land Use Rights consist of the following:

	September 30,		June 30,
	2014		2014
Land use rights	$	13,238,189	$	13,238,189
Less: accumulated amortization		(1,579,453)		(1,514,213)
Total land use rights, net	$	11,658,736	$	11,723,976

Developed Technology Rights [Member]

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Impaired Intangible Assets [Table Text Block]

The technology know-how consisted of the following:

	September 30,		June 30,
	2014		2014
Technology know-how	$	2,448,191	$	2,448,191
Less: accumulated amortization		(2,012,417)		(1,950,164)
Total technology know-how, net	$	435,774	$	498,027

Customer Relationships [Member]

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Impaired Intangible Assets [Table Text Block]

	September 30,		June 30,
	2014		2014
Customer relationships	$	10,556,000	$	10,556,000
Less: accumulated amortization		(4,469,314)		(4,205,414)
Total customer relationships, net	$	6,086,686	$	6,350,586

Noncompete Agreements [Member]

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Impaired Intangible Assets [Table Text Block]

	September 30,		June 30,
	2014		2014
Non-compete agreement	$	214,368	$	214,368
Less: accumulated amortization		(182,213)		(171,494)
Total non-compete agreement, net	$	32,155	$	42,874

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PROPERTY, PLANT AND EQUIPMENT (Details) (USD $)	Sep. 30, 2014	Jun. 30, 2014
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 67,914,233	$ 67,682,974
Less: accumulated depreciation	(20,638,237)	(19,621,363)
Total	47,275,996	48,061,611
Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	29,930,241	29,930,240
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	732,684	732,684
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	36,424,759	36,193,501
Agricultural Assets [Member]
Property, Plant and Equipment [Line Items]
Total property, plant and equipment	$ 826,549	$ 826,549

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COMMITMENTS AND CONTINGENCIES

3 Months Ended

Sep. 30, 2014

Leases [Abstract]

Leases of Lessee Disclosure [Text Block]

NOTE 14 - COMMITMENTS AND CONTINGENCIES

On June 29, 2014, Jinong signed an office lease with Kingtone Information. Pursuant to the lease, Jinong rented 612 square meters (approximately 6,588 square feet) of office space from Kingtone Information. The lease provided for a two-year term effective as of July 1, 2014 with monthly rent of approximately $4,000 (RMB  24,480).

In January 2008, Jintai signed a ten-year land lease with Xi’an Jinong Hi-tech Agriculture Demonstration Zone for a monthly rent of $844 (RMB 5,200). However, the land lease contract was terminated since Company sold Jintai’s assets by the year ended June 30, 2014.

In February 2004, Tianjuyuan signed a fifty-year lease with the village committee of Dong Gao Village and Zhen Nan Zhang Dai Village in the Beijing Ping Gu District, at a monthly rent of $480 (RMB 2,958).

Accordingly, the Company recorded an aggregate of $3,975 and $15,882 as rent expenses for the three months ended September 30, 2014 and 2013, respectively. Rent expenses for the next five years months ended September 30, are as follows:

Years ending September 30,
2015	$	15,898
2016		15,898
2017		15,898
2018		8,298
2019		5,765